Capital One Financial
Average Volume: 5.56 million
Volume % Change: 161% Shares of COF are soaring higher here after the company posted a first-quarter profit that beat Wall Street analysts' estimates on improved lending margins. From a technical perspective, COF is gapping sharply higher here back above its 50-day moving average at $54.17 with heavy upside volume. This move is quickly pushing shares of COF within range of triggering a major breakout trade. That trade will hit if COF manages to take out some near-term overhead resistance at its 200-day moving average of $56.68 and then above some more resistance at $57.86 with high volume. Traders should now look for long-biased trades in COF as long as it's trending above its 50-day at $54.17 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.56 million shares. If that breakout hits soon, then COF will set up to re-fill some of its previous gap down zone from January that started near $62. To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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