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COF Bull Flag Setting Up

COF Bull Flag Setting Up

by | Jul 29, 2021 | Chart SetUps

Capital One (COF) consolidating in a narrow flag under $165 and recent highs with shares back above the 8- and 21-EMA this week. A move higher has room to run with a measured target up around $185 and both MACD and RSI with plenty of room for expansion. COF has been a relative strength name for much of 2021 and ready to regain its leadership with financials set to break out of a consolidation too. COF has a sizable cash position and BMO out positive last week noting they could pursue M&A as a way to grow earnings.