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Capital One Financial(COF - Get Report), with its banking and non-banking subsidiaries, markets a variety of financial products and services. This stock is trading up 6.3% at $56.12 in recent trading.
Today's Volume: 9.19 million
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.