swara7kadir

Earnings Play Day Trade C on Monday the 15th of July

NYSE:C   Citigroup, Inc.
C has earnings tomorrow Monday the 15th. It looks more bullish than bearish. Its making higher highs and higher lows and its above all its major moving averages 20ema,50sma,100sma,200sma. Recently its been hitting the overhead resistance area around $72.00. If it breaks out of the 72 daily resistance then it has room to go up until around $73.30. On the bearish side, it could go back and fade to its 20 ema daily at $69.63. I would be more inclined to go Long on it rather than Short it, due to the reasons mentioned above. The market sentiment is critical here as it needs to be in line with the SPY for the trade to work. The general expectations is that the earnings reports would be positive, so we shall see on Monday how C will play out. Remember this is a stock that doesn't make huge moves, and it has a lot of liquidity so its safer to trade than some other stocks like CMG.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.