TRVC trade ideas
Citigroup breaking out of the cup and handle patternNYSE:C is breaking out of the cup and handle pattern and holding up on the neckline. Stock is now targeting 80.84$, stop level at 64$.
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This is only my own view and not financial advice, do your own analysis before buying or selling
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Citigroup LongHi all,
I noticed looking at a few filters on my screener that there was some high dividend yielding companies all showing good benjamin graham numbers. It was immediately obvious to me that the vast bulk of them were in the financial sector, with the narrative of most of the worlds developed populations life changed by huge degrees and the flow of money slowed for most that lending would in turn go down. I got in at $45.31 in onctober and have bought in every other month since. current total position is sitting at +22%.
My initial investment was going to be long term (10Y) but I will re-evaluate if/when we reach the top of the window shown on the chart.
CThe current trend is moderately bullish and C is experiencing selling pressure, which indicates risk of future bearish movement.
C is currently trading in the 60-70% percentile range relative to its historical Stock Score levels.
Pump and Dump EconomicsMight update later.
Will definitely try to keep the ranting to a minimum ( tradingview is permanent, you know.. )
Anyways, interesting view. Citigroup, monthly .
Banks gain momentum Potential gain:18%
Reward/Risk:5
Timeframe: 4-8 wks
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
Please review my track record and calculate the odds for yourself..!
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C Elliott Wave Analysis 2/19/21Probable possibility
Expecting Minor Wave C to complete Intermediate Wave (2)
An equal A to C aligns with the 50% of (1)
$C - so many great things about it IHS potential.
It's a laggard due to bad new late last year
daily consolidation, golden cross, strong ATR support, MACD cinched and stochastic has a lot of room to move up. Getting into calls. One of my faves
C Elliott Wave Analysis 12/22/20Update to previous posted chart, possible/probable target price around $66
C Elliott Wave Analysis 1/26/21Possible/Probable wave count and outcome for corrective Wave (2)
Either way I think it'll retrace to the 61.8% or 50%
If A is not complete, then it'll go lower, 38.2%
Citi Bullish Gap FillCiti just completed a gap fill, and is very oversold based on the money flow index.
It reported an earnings beat by 55%
This looks like a good place to buy the dip, I likely will add to this position
I wish everybody here luck in all your trades, always practice proper risk management.
Thank you for viewing.
$C with a Neutral outlook following earning releaseThe PEAD projected a neutral outlook for $C after a Negative under reaction following its earning release placing the stock in Drift D
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Trade Update #stocksThe Chart: Price has fully reversed from the bottom of the large range (rectangle) and has now broken out of the top end of the range. Despite todays rough down day I am comfortable with my position as long as price can hold above the 59 area.
The Narrative: Banks are taking a bit hit on earnings but the quarterly results we not as bad as the price drop may seem. Given the run most including Citigroup have had, taking some profits into the quarterly results was some what expected. The recent move in interest rates, reopenings, and overall global growth should all be tailwinds for the sector. Unless there is a double dip recession, I think the banks have more room to run especially if we hold the 59 area for Citi specifically.
resistance is close, stay cautious great breakout on all the banks in the past couple of weeks, if long here on C consider taking some profits around 70-72 where we have seen it get hammered down in the past. but of course it resistance breaks it will turn into support. if that happens you can target 75-80! either way congrats :)
Cup and Handle Earnings 1-15Earnings 1-15 BMO
Break from C&H Pattern
Cup low is 40.49 Cup depth is 21.98
Mid cup is 51.48
Support below handle low and mid cup
Targets are calculated using cup depth and fib levels then added to long entry level.
Not a recommendation
The market does not form pattern, we do (o:
Citigroup : quick lookThere were times when #C were the largest US bank and their share price was 10 times higher.
More than 12 years have passed since then and #C market cap now is just half of Bank of America's #BAC one and 3 times less than of JP Morgan #JPM.
2020 pandemic wasn't a financial industry crisis. Quite the contrary Banks are benefiting from the huge injection of liquidity, increase of the number of retail investors and IPO-mania.
Their own analysts predict a bright future for the long time undervalued financial sector in the months to come.
Sourcing inspiration from the #C share price dynamics in 2016-2018 we could mark some support-resistance levels for #C up until end of 2023: 63,50 - 53,50 - 83 - 72 - 100 - 90 - 120
nice short heretarget 54-55 and then switch to the long side after you sell the short position for profit! rejected off big resistance.. goodluck ! :)
