This Friday 13/07/2018 three of the main USA Banks are releasing quarterly results #JPM #C #WFC, The Banking sector is experiencing positive fundamentals that have been driving the spike of their stocks in recent months: 1. USA Interest rate hikes : according to Bloomberg research, for each 1% that USA increases the interest rate level Banks like Bank of...
Trade the trend with bullish bias until proven wrong, It bounced nicely off the last safety net of 66, price area around 72 should be interesting to see if bears will keep the ball rolling or let the trend continue to flow. Trend says buy so I buy. Stop loss below 65 if that breaks it will show bears are gaining momentum.
Earnings season for the US banking sector is turning into an active phase tomorrow. Two largest banks - JPMorgan and CitiGroup – will publish their financial statements for the second quarter. This will happen on Friday July 13, 2018 before the market open. Our expectations for the stock market from the current earnings season are quite optimistic, and as for the...
The popular ETF, XLF follows the financial sector and after weeks of selling, it looks to have found support and be gearing up for a big move indicated by the Weekly Squeeze coiling for the past 8 weeks, with the momentum shifting to bullish this week. If you take a look at C (Citigroup), it too has a Weekly Squeeze. If you take a look at it on a Daily it also...
CITIGROUP - is turning bearish and expected for a new breakdown.
If this can close below that blue ling then expect lower prices. falling wedge below all sma banks are really lagging and holding the markets back
Morgan Stanley, Bank Of America, Citigroup and JPMorgan - all exhibiting similar year to date behaviour. The whole sector is rolling over, reversing the 2017 rallies as the yield curve remains flat, and possibly set to invert. JPMorgan and Bank Of American look particularly bad.. notice both are just managing to hold up above a clear 6 month support. I would bet...
It's likely to have the third wave of wave 5 soon.
Im on sell...made money...now the next plan... Plan 1 : Sell here 66.5 Plan 2 : buy pull back 73.5 I still feel the trend is up...and it will move up...let us watch....
I believe the market support is going to be around $67 for the next few weeks, and a short call of it going to reach a $70 market price within a timely manner is reasonable. The negative correlations and left skewed spread though seems unattractive to investors, but it is still not considered a high risk stock. Overall Citigroup is investable for a conservative...
The financial sector sell off caught my attention. Bearish future?
Who couldn't love Citi when it had dropped to $68? Given both the long term and "2017 Hotness" trend lines, the stock has been knocked down between a reasonable to weak area where it can rebound back up to a comfortable "median" position that has been previously held. Reading between the fib lines and the somewhat consistent range of $70-77, it wouldn't be...
Later in the week, we kick off earnings season with a trio of financials: JPM, C, and WFC,* all of which announce on Friday before market open. Generally speaking, I haven't played a lot of financials in the past, since their background implied volatility never seems to bump up significantly enough. Here, however, with JPM's implied at 32, C's at 33, and WFC's...
We detected an entry sign in C Citi NYSE:C . We are close to the earning calendar so we believe there may be a technical purchase alert. We have traced a fibonacci retracement. If pp siganl gives buy signal above or close to 23% .60 fibo ... Buy. Take profits in fibo 50 or 78%. Configure signal in W search.
As the stock market pulls back, it will be exciting to do the bottom-up strategy. C has a potential bullish butterfly pattern and the entry will be near 70.00, which no doubt will be lots of buying orders. In an investment mindset, long in front of 70.00 and put the out below 65.00 will be a solid strategy, while in a trading mindset, an intraday reversal sign...
I think last week's pullback in equity markets was a good thing. The market got overheated and it gave us a reminder that stocks don't always rise. Memories and patience are short in the finance industry especially with some recent trends (blockchain) skewing people's perception that building wealth gets built overnight. Not the case, in the past 50 years of the...
Hi guys. I always feel sad making short calls but somebody has to do it imho. Happy trading and please always wait for confirmations (e.g. lower high and lower low).