C BreakoutC is on its 4th test of resistance, with its moving averages kissing up right underneath its price as support. Its also forming a round up pattern within its breakout making it that much more powerful. I'm looking for it to breakout and complete its round up symmetric pattern at $71 for 5% move to the upside.
CITI trade ideas
Daily C(Citi) forecast timing analysis by Supply-Demand strength21-Jun
Investing strategies by pretiming
Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk
Supply-Demand(S&D) strength Trend Analysis: In the midst of an adjustment trend of downward direction box pattern price flow marked by limited rises and downward fluctuations.
Today's S&D strength Flow: Supply-Demand(S&D) strength flow appropriate to the current trend.
View a Forecast Candlestick Shape Analysis of 10 days in the future: www.pretiming.com
(You can easily create a trading plan.)
D+1 Candlestick Color forecast: RED Candlestick
%D+1 Range forecast: 0.3% (HIGH) ~ -1.7% (LOW), -1.0% (CLOSE)
%AVG in case of rising: 1.6% (HIGH) ~ -0.5% (LOW), 1.3% (CLOSE)
%AVG in case of falling: 0.4% (HIGH) ~ -1.5% (LOW), -0.7% (CLOSE)
Price Forecast Timing Criteria: Price forecast timing is analyzed based on pretiming algorithm of Supply-Demand(S&D) strength.
C BreakoutC has tested upside resistance over three times and has broken it and closed multiple days over the line on the daily chart. I do think we will see a rotation from tech into financials for the next several weeks. I'm looking for profit potential to $75-$78 for 6-9% gain. If my idea is false I would look to sell at support trend line.
C: Pre-earnings run pattern ahead of Monday reportCitigroup has a pre earnings run pattern which tends to be caused by Pro Traders setting up to take advantage of the earnings reaction. The company will report its 1st quarter earnings on Monday. C had a reactionary gap up at open caused by the JPM gap today. It formed an indecision day candle rapidly. The early gap could interfere with the technical patterns for the report release day.
$C CITIGROUP NOT APPEALING YET. ARE BANKS STILL WHERE YOU SEND MONEY TO DIE ? CITY LIKE MANY ARE STRUGGLING TO GET NEAR THOSE HIGHS FROM 2018. MOST RECENTLY THOUGH THE XLF HAS SEEN A INFLUX OF FRESH CASH, MAYBE GIVING US POSITIVE SIGNALS PRE-EARNINGS. WE WAIT ON THE SIDELINES ON CITIGROUP UNTIL RESISTANCE IS BROKE $67 IS A GOOD ALERT FOR ENTRY IN A LONG.
Citi Bank Bullish Breakout?Can we see a breakout in NYSE:C ?
I currently say this because ever since the 14th of January of 2019 it has been consolidating between the resistance line at the $65.23 and the support at $60.81.
For myself the RSI and MACD are the most important indicator to me. As you can see the MACD has crossed just before the 3rd run to the resistance and the RSI is yet to be oversold.
Posting this today the price has came close to the resistance line just by $0.6. I believe that if we see the price break through the resistance than it will breakout and we can see the target price to be around the $69.00 range.
ALSO, there was a big right triangle forming and as of today it has also broken through the right triangle resistance line. So this should be interesting to look at if it can break through 2 resistance lines.