Capital One Near the 200 Day

Published on Monday, 13 February 2012 08:28 Written by TradersHuddle Wire

New York, February 13th (TradersHuddle.com) - Shares of Capital One Financial Corporation (NYSE:COF) traded at $48.28 close to its 200 day moving average currently set at $46.37. Capital One's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

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.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $44.65 and calculated resistance at $49.25. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Capital One stock.

Traders wanting to establish a position on Capital One will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.