Capital One (COF) pullback tests key support

We previously highlighted a constructive technical setup for Capital One (COF) pointing to upside beyond 230 and toward a bullish pattern count at 268 (Straight from the Chart posts dated August 28 and October 17, 2025). Since then, the stock has come under near-term pressure.

COF formed a weekly shooting star (week of 1/9), followed by a weekly downside gap (week of 1/16) and has had continued downside follow-through so far this week. Shares are testing the rising 26- and 40-week moving averages near 224 and 215. These moving averages held as support in November and October, and we would view an upside reversal from this zone as constructive. However, more significant support sits at 204–199, aligning with the August, October, and November lows that retested the breakout from the January-June 2025 bullish consolidation pattern.

If COF can stabilize in the low 200s, the upside target at 268 for the January–June bullish consolidation remains valid, but the weekly downside gap at 243–248 may act as overhead resistance on any rebound.

Chart 1: Capital One (COF): Weekly chart