C - Long to $47.20 and $49.50NYSE:C
Just an idea:
Entry now $43.50
Take profit $47.20 and $49.50
Stop loss or hold long is up to you
Disclaimer!
C trade ideas
$C - can it do it? $BAC and $C are not as bad as $WFC but not as good as $AXP - watching them closely
$AXP and $MC definitely have the buyers at this point. Buffet moving funds from $WFC to $C maybe a tiny boost to get this to pick up a bit more
$C - gearing upCharts are showing some positive signals. Maybe the sector will continue to move upward.
let's make some profits againhere is a stock that was discussed with a client , for now the consolidation shows the nature of the next move.
PM in case you are not familiar with the trade box.
I will link some ideas where same strategy was used.
CI will try this long in C again (after getting stopped out last time with a small profit), but only at the bottom of this broadening formation around $47.8 - $48. Targeting a quick return to the top of the formation around $56-$57 with a lotto call. Included a comp to 2014 to show what this MAY look like.
CITIGROUP Primed for modest gainsNice crab formation developing.. should see some modest easy gains over time. Nothing special to write about. Easy easy... Just be sure to watch this one as it completes it could tank or hold for additional bullish momentum.. but in the interim.. and easy trade.
C Long for Week of 8.9C looking like a potential buy for the week or two.
Enter point: 52.40. Stop: 49.50
Targets:
Target 1: 53.80
Target 2: 56.00
Target 3: 57.50
Best of Luck,
--d0x
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break above 52.75 and hold then run to 56 $C very coiledCiti is very coiled and with more government stimulus you can expect banks to have a similiar up tick to last stimulus
SC looks like it wants a monster breakout? up or down be readyso tightly pinned between anchored vwaps at crucial levels of interest
Buy on CITIGROUPOur view on this Stock for today
Entry 49.73
SL 48.98
TP 388
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Trading Kitchen
Citigroup looks undervalued, but too risky to enter hereI did a deep valuation analysis on Citigroup today, digging into their earnings reports for the last three years as well as analyst estimates for the next 4 quarters. Here are my conclusions.
In forward P/S terms, Citigroup is nearly the cheapest it has been in the last three years. However, in forward P/E terms, it's nearly the most expensive it has been in the last three years. The valuation in P/S terms may be more important, because analysts expect the earnings numbers to climb steeply back up to meet the sales numbers within a few years. (Roughly 23% earnings growth rate expected in the next 4 quarters, and nearly 4% growth rate for sales.)
However, there are risks. Analysts are predicting a steep drop-off in sales next quarter due to the pandemic's impact on consumer credit, which is sharply down. Then they expect sales to recover from there. However, an alternative scenario is that the pandemic is prolonged and we don't get a vaccine this fall, in which case credit might continue to deteriorate and Citigroup's sales might fall off even more steeply in Q4 than in Q3.
I'm also worried about the outlook for the mortgage market. Current housing prices are artificially high, but there's a reckoning coming for residential real estate whenever Congress allows mortgage forbearance to expire. (Expiry is scheduled for August 31, but there's talk of extending it to next year.) If forbearance is extended, then renters and borrowers may not pay, which would hurt bank earnings. If forbearance is allowed to expire, then housing prices will fall and mortgage sales numbers will fall with them. Banks would seem to be in trouble either way, and I'm not certain analysts have accounted for this.
Thus, I will not be entering Citigroup here. I expect the narrative around banks to remain negative for the next quarter as bankruptcy and default rates continue to rise and credit continues to deteriorate. There's a good chance we will retest the bottom near $36/share sometime in the coming quarter; if so then I will revisit the numbers on Citigroup and consider an entry there.
(P.S. It's also worth pointing out that under normal market conditions, Citi's sales and earnings appear to grow linearly in dollar terms, which means that growth decelerates over time in percentage terms. In other words, Citigroup is not a compounder. That's reason enough to only trade this stock, not buy-and-hold for the long term.)
