COF bullish prior to earnings
As we approach much awaited results for capital one stock, from a technical perspective although the price had failed to break its a high of 134.26 during the week of FRI 05 Jan 2024, As we observe current price action as comparable to the left chart using the weekly timeframe we are at a point in price were there has been a significant move within this equity around this price range. The fact the current weekly candle starting tues jan 16 2024 ended with a green long wick full bodied candle representing buying volume looks to have gained momentum holding price action at a halt furthering the chance of a drop in price to be unlikely as we approach Jan 25. Looking at the right chart on the price was support at a low of 123, if we look within the monthly candle on the daily even with the consecutive daily red bearish candles the fact that the green bearsh daily candle closed green well above the ichimoku cloud cover further supports the price. I have a 2024 price target of 160 but would look towards a high of 135 to retest that price range yet again in the near future as early as mid February if buyers step into this with positive earnings.
from a fundamental aspect the rise in credit card usage and loans being acquired is on the rise, and many people will go need credit to fund their ventures or any daily activities that can be in the form of a credit card.
from a fundamental aspect the rise in credit card usage and loans being acquired is on the rise, and many people will go need credit to fund their ventures or any daily activities that can be in the form of a credit card.
infamousnicone
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