Head-and-shoulders forming on the 5-day.
Credit card defaults reaching all-time highs.
Cash exodus (mostly to money markets, bonds, etc.) means the hurt on Western/U.S. banks is only just beginning.
Trend is downward.
Looking for a bounce around the bottom of the LuxAlgo indicator channel.
Head and shoulders pattern established for Citi. Is for the biggest banks/financials/Transports, on the planet. JPM, GS,WFC, BAC, IYT, VTHR. Seeing it everywhere
Looking at Citigroup's chart and publishing to keep track of the movement. The chart is forming a head and shoulders and could get ugly if the pattern plays out.
This bank holds more cash around the world but we know that banks has no more cash at their vaults because of Federal reserve banking system. Interest rates kill them.
So we might see CITI group might go below or pump atleast there is a buyer.
Follow for more.
This year is interesting on banks......
The PEAD projected a bearish outlook for NYSE:C after a positive under reaction following its earnings release placing the stock in drift A with an expected accuracy of 50%.
Citi bank is traveling towards the resistance @ 52.
Once it touches 52, we can expect a short pull down to 49 or 48.
Once it crosses 52/53, it will fly.
After the last price target was reached:
Now looking at the C Citigroup options chain ahead of earnings , I would buy the $52.5 strike price Calls with
2023-9-15 expiration date for about
$1.28 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
This bank sell-off looks like a buy opportunity if you think medium to long term.
Looking at the C Citigroup options chain, I would buy the $45 strike price Calls with
2024-1-19 expiration date for about
$5.55 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
With everything that's happening in the financial sector, and speculations about a recession. Citigroup share price dropped into a weekly downtrend channel and breaking below previous major support. I'm hoping for the share price to drop to the next major support level @39.58.
Citigroup doesn't look as bad as BAC or JPM as it has already been going down strong since June 2021, it also didn't recover much from the 2009 crash and so there is less room for a crash... But it is still quite bearish, the chart!
Here is the chart:
Maybe this people are more down to earth and this is why their stock is doing worse, they know whats coming,...
$C has a very strong trend signal here, interesting setup forming here in the daily as well, looks like a pretty low risk long with decent upside.
Interesting that banks act strong now as well, from an economic standpoint...
Best of luck!
Cheers,
Ivan Labrie.
Citi is another banking stock flirting with upside.
Prices broke above the 200 propulsion moving average and are now retesting the breakout. This corresponds with a weekly 1-2-3 breakout.
G/G trend that is flirting with y/y. Will revert back to G/G with up day Monday.
RAF < Extremes, so minor low breakout trade.
No vscore. Some volume level support in this...
A good opportunity to long position and get a good profit from the attractive American stock market
Stay with me to get more analysis after following me by sharing with friends and leaving a comment.
According to my risk and capital management system, the risk of each trade is one percent per position.
What do you think about this analysis and other...
A good opportunity to long position and get a good profit from the attractive American stock market
Stay with me to get more analysis after following me by sharing with friends and leaving a comment.
According to my risk and capital management system, the risk of each trade is one percent per position.
What do you think about this analysis and other...
citigroup is showing all major signs of having completed wyckoff accumulation near bottom since 2009. it has been in congestion for more than a decade now and has failed to make a new low over more than a decade. currently it is reversing strongly from the bottom of the trading range. next ten years could see it reach 500 again (10x potential)
