MASTERING
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ORIGINAL, INTERACTIVE
SEMINAR ON TRADING USING
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10/7/98 CAPITAL
ONE FINANCIAL (COF)
Points to Watch: Stock in downtrend
since July. Broke down through both 200 day moving average at 90.84 and strong Gann angle
support at 89.75. Weekly MACD and RSI in strong downtrends. Both weekly and
daily OBV have turned down. The weekly ADX has turned down and fallen below 40.
The current swing down has fallen to the prior swing's lows. Important
support (Gann square 180 drawn from 7/9 at 128.68) exists at 84.25. Stock tested and
held this line on a closing basis 3 times in September and again yesterday. Fibonacci
support exists at 82.8. Wait for a closing break below these 2 support points before
shorting.
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Last modified: April 02, 2001
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