Trade Alert - Capital One High Volume

Published on Thursday, 09 February 2012 11:38 Written by TradersHuddle Wire

New York, February 9th (TradersHuddle.com) - Unusual high volume detected on shares of Capital One Financial Corporation (NYSE:COF), early in the trading session. Capital One is currently trading higher by 2.3%, so definitely the buyers stepping in, as the stock's volume is already above average.

Capital One Financial Corporation (NYSE:COF) is a diversified bank. The Bank, through its subsidiaries, offers a broad spectrum of financial products and services, like credit cards and car loans to consumers, small businesses and commercial clients both domestically and internationally. Headquartered in McLean, Virginia, Capital One, N.A. has approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia.

Capital One has already traded 1.223 times its 3-month average volume, and has calculated support and resistance at $44.65 and $49.93 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.05% from its previous trading close, which means that Capital One stock is outperforming the overall market.