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Capital One Financial (COF) Approaches New Downside Target of $52.31

Published on Wed, 02/20/2013 - 13:38
By Peter Chu

Shares of Capital One Financial (NYSE:COF) have bearishly opened below the pivot of $53.36 today and have reached the first support level of $52.71. Analysts will be watching for a cross of the next downside pivot targets of $52.31 and $51.26.

In the past 52 weeks, Capital One Financial share prices have been bracketed by a low of $47.99 and a high of $62.92 and are now at $52.44, 9% above that low price. The 200-day and 50-day moving averages have moved 0.04% lower and 0.24% lower over the past week, respectively.

Capital One Financial Corporation is a diversified bank. The Bank, through its subsidiaries, offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients both domestically and internationally. Capital One has bank locations in Connecticut, Louisiana, New Jersey, New York, and Texas.

Capital One Financial has overhead space with shares priced $52.44, or 21.1% below the average consensus analyst price target of $66.46. The stock should run into initial resistance at its 200-day moving average (MA) of $56.42 and subsequent resistance at its 50-day MA of $58.16.

By Peter Chu
pchu@fnno.com