1C trade ideas
US Stock, Citigroup, H1 LongPossible move price in long direction as continuation last big move on D1 chart and after removed last 2 peak on H1 chart.
C- double top to double bottom?Higher lows, fed out of way. Watch for bounce off this area. If fails, short
C retest gapCitigroup just gaped above previous resistance. It retested that area for a good buying opportunity. placing stop at 45.00 trend is bullish. not to mention trump made claims about an increase in credit lines for small business growth. I am bullish on the financial sector. I see an increase in lending power under a trump presidency.
C- double topCitigroup shares showing a potential double top here with a break below 58.75. If it does not hold, may consider reshorting on pop bask up toward 59. Will see how it reacts.
citigroup...watching ....buybuy after breakout....its a important price level for chart and after breaking it will be a nice support
Citi---Ready to Drop (Mid-term, Weekly)Shouldn't be a hard trade for this one, I have 75% confidence on this short.
For mid-term traders, Citigroup looks like a great short opportunity. It follows the Fib Extension very well by now.
Various reasons for saying Short:
1. Weekly Chart shows the first Red candle after multiple weeks rally straight yolo swag up.
2. MACD topped, RSI oversold, Stoch RSI oversold, even my MFI breached the top(yeah baby)
3. I'm not good at Harmonics patterns, but this looks like a great Bearish pat or butterfly or whatever the animal is.
Targets shows on the chart
TP 1: 55.25...0.786 on fib
TP 2: 50.46...slightly lower than 0.618 fib, reason why is previous support line (red) is there and pervious small support and resistance(2 tiny yellow boxes) all mixed at that price.
I'll starts accumulating at tomorrow intraday high.
Trade at your own risk.
Here's your tater tots~~
Citigroup showing signs of multi-month improvementMulti-month recovery from USD34.52 February lows gaining traction as prices accelerate higher to pressure critical resistance at the USD60.95 range high of July 2015.
In much the same vein as AIG, Citigroup is slowly recovering ground lost during the 2007-2008 mortgage crisis. investor sentiment and momentum studies are slowly improving, suggesting further gains in the coming months.
Next significant resistance is at the USD75.85 year high of January 2009.
Citigroup is also showing signs of Outperformance relative to the strengthening US Financials Index.
Long Term Turnaround?We are leaving a sideward range behind. It has been left 2013 already is moving slowly upward since, however it still lokks like sideward. But this seems so ony due to the downward correction since July 2015. The correction has finished in March and now we are within an interim upward trend. Because of the correction was within a slight stepping up we may see new highs soon.
C: Systemic risk, extremely overboughtCitigroup shares might be poised for a retracement here, we can expect a selloff to take place, if we don't move back above 56.78. I'd reccomend either shorting it, or buying puts. You can buy out of the money puts and sell bear put spreads to reduce costs (vs buying at the money puts).
Good luck,
Ivan Labrie.
Great Near Term Short for Citi GroupRSI is starting to go through the roof, and Williams VixFix is significantly weakening. Almost everytime this has happened since early last year, it pullsback.
Trending upAt least in the daily chart we have an uptrend. The weekly is still bearish, however the indicators support an upward correction there as well.
C Daily Chart.Long View , Bearish Gartley Price can shoot up to the resistance level , where Gartley completes , a reversal to the major fib points , and and pull up to continue the uptrend.
