2waytrading

Double Top Bearish Pattern

Short
BATS:COF   Capital One Financial Corporation
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Friday's price action confirms the waited double top bearish pattern and it may take time, in most cases, is a pattern that is reliable. Though financials were the best performers in recent months, $COF did in fact under performed and the worst is yet to come. If you are not in this trade already, try to start building short positions slowly by adding more as it bounces from extreme sell off but will eventually go lower. Target price $46-$47 stop loss at recent swing high at $56.50 area. Join us http://www.woowtrading.net