Really interesting while all banks are doing great, and there is this sole company that lagged so much behind everyone, including the banking sector ETF: XLF.
Because of that, I think it's a good idea to research a little bit about Citi. So based on statistics, given a 99% level of confidence, Citi is clearly sharing a similar pattern as XLF, but less gain, more loss.
While examining the PE ratio, I noticed it was almost as close as the 2020 low. From the trend perspective, it looks like a descending wedge in my opinion, and with earnings coming, I think it's a good idea to start watching this stock.
As it fell to the lower edge of the wedge, I am more optimistic about its outlook and am aiming for a target price of 63(conservative), and 68ish for a more aggressive move. I see the banking industry doesn't pay that well, but I personally believe the "expected return" ratio would be higher compared to the tech sector, as there really isn't too much risk involved at all.
- By Qtaro
Because of that, I think it's a good idea to research a little bit about Citi. So based on statistics, given a 99% level of confidence, Citi is clearly sharing a similar pattern as XLF, but less gain, more loss.
While examining the PE ratio, I noticed it was almost as close as the 2020 low. From the trend perspective, it looks like a descending wedge in my opinion, and with earnings coming, I think it's a good idea to start watching this stock.
As it fell to the lower edge of the wedge, I am more optimistic about its outlook and am aiming for a target price of 63(conservative), and 68ish for a more aggressive move. I see the banking industry doesn't pay that well, but I personally believe the "expected return" ratio would be higher compared to the tech sector, as there really isn't too much risk involved at all.
- By Qtaro