What’s In Your Wallet?

• Posted by Greg Harmon
• on May 27th, 2014

Many of the credit card stocks broke out and ran today. American Express ($AXP), Visa ($V) and even Mastercard ($MA) despite the late day fade. But there are still two names in the group, the second tier as they say, that are poised and ready. This means there is still an opportunity for you to take advantage of. Take a look.

Capital One Financial, $COF, is bumping up against resistance at 78 for the third time since April. The RSI is bullish and rising and the MACD has crossed up and is rising. There is a slow drift up in the SMA’s as well. A move over 78 would target a Measured Move to 88 on the break of the ascending triangle higher.

Discover Financial Services, $DFS, is pressing against resistance at 58.25. As it reaches the top the RSI is rising and int he bullish zone while the MACD has crossed up and is rising. The Bollinger bands also seem to be opening higher. There is a quasi-ascending triangle at work in this name as well. Over 58.25 sees a target of 62. So what do you have in your wallet?

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