Citigroup Daily (17.07.2014) Technical Analysis TrainingThe Citigroup Inc (NYSE:C) Daily Diagram Technical Analysis Training shows the following:
The C share has made long term consolidations between $46 and $49.5. The weekly diagram shows bullish trend and the monthly is neutral.
So the first think in mind is the case of daily local top at 49.50 again. So we will see if it is a strong long term resistance. MACD is bullish and RSI too. The volume is moderate.
Today it seems to make a reversal hammer candlestick pattern. The share is above the KUMO the Kijun Sen (blue line) and the Tenkan Sen (light green line) too. In addition is above the EMA 200.
There is no special pattern. There is no fib measurement.
There is something you can observe on the diagram. In the previous uptrend the Kijun Sen (blue line) could not got itself above the KUMO. But in nowadays uptrend development the Kijun Sen is above the KUMO. Thats why I think bullish even the todays' reversal hammer,
CITI trade ideas
$C - monthly chartsince 08 01 07, Citigroup's price, revenues, and earnings are down 90.5%, 16.49%, and 38.89%, respectively.
the monthly Williams % R just fell below -80 however $C's earnings "beat" might provide a near term catalyst for a move to the upside.
that said, the long term chart still looks horrible.
DIVERGENCE DONE ?Is this divergence done ? we can't be sure but the price hit a long term support area and broke the short term trend line. I would suggest waiting for the price to break the short term trendline and the short term (orange) resistance zone and then start buying. Seeing the accumulation of the stock spiking and the break of the trendline occuring would be a good signal. I think the right place for the stop loss would be the long term support zone or the angle trend line (green)
Learn MACD with C Historical PriceThere is 2 Signal that MACD made
Golden cross and deadth Cross
you can see in the chart,
Golden cross is a buy / long signal
when Blue line cross the red line, it is Golden cross, and it is a buy/long signal
when red line cross the blue line, it is deadth cross, and it is a sel/short signal
in C Chart, MACD is quite accurate to predict the trend
Citigroup Ready to Move?Shares of Citigroup have been trading in the $48-$52 range for close to the last 6 months. With the stock currently trading at $50, Citigroup has YTD performance greater than 25%. Despite the above average returns, I think the stock is getting ready for a breakout very soon. The $52.5 January options are trading at 5:1 call to put ratio and the $55 January option right now has a 3.5:1 call to put ratio.
CityGroupElliott Wave Bullish Contracting Triangle.
For the reason C wave was already complex, D should be finished & impulse wave up to act with daily TF.
E finished either X wave or IV wave. First Alternation comes with 51 $ tick, note that once & if reached contracting triangle can be drawn as bearish pattern & scenario ie. to end B wave !