CTGP34 trade ideas
Citigroup fallingCitigroup has fallen out of a rising wedge and broken down past the short term support of 43. Next support is at 39.80. Most banking industry stocks did poorly today. This may be a beginning of a bear trend or a brief correction before further rising. If price falls bellow 39.80 with heavy volume bear trend is active.
Citigroup @ Resistance, Pre-EarningsCitigroup is at a Multiple Timeframe Resistance 3 weeks prior to earnings. Volatility is low with the VIX down and earnings far enough away to buy Single October 40 Puts. Looking to get ITM by September.
C getting ready gain!!!Mac d about to cross over and trendline might break . Resistance is holding so far. Let's see next week. I'm looking for shorts...
Range bound in rising channel Citigroup price has been in a rising channel since Febuary. Currently pushing against the 200 EMA. I'm bullish until this thing drops down out of the channel
(D) If bullish momo continues and 45 remains near term supportthen, long entries near the bottom of the mild bullish channel could be decent as it glides towards 50.
RSI and MACD have room above before showing signs of exhaustion. Of course it may retest 45 or P pivot support before going higher.
Stalk your entry and follow your rules.
Citigroup in uptrend R/R = 4Citigroup is an upside channel and the stock reacted positively on the news that there might be an interest hike in June 2016 by the Fed as this might improve their operational margins
A great shorting oppSome serious overhead resistance. Pick your spots, but some great targets below...
Sell C.....This is bearish in my eyes...
Weekly:
-Trendline supp gone
-Another trend line will poss break soon
-Ichimoku bearish
-Close below Kijun is a nice sell opportunity
Thought to share with you guys
CITIGROUP head and shoulders patternPattern is confirmed, now I am waiting for pullback to advancing neckline area around 44 to enter long position. There is enough room to 52.
Getting Ready to Explode from Bolinger Band SqueezeBuy at 43.45 with a stop at $27.80.
This trade is not alot of shares but has huge upside potential if what we are seeing is a true bottom.
