TRVC trade ideas
CitiThis week I am watching CitiGroup $C along with some more financial stocks but, we’re focusing on CitiGroup $C. Back in January CitiGroup $C tried to held the $41.68 but, failed miserably and made a low at $34.43. We are not quickly to test $44-45 after the first test of $44.15 but, we had slightly higher high and lows in the triangle but, They made a low that I pointed out earlier. This week will be a key role for CitiGroup $C because of earnings for the first quarter but, we have 4 days to see the setup into the number. I really want to see if we can get out of the $40's.
$C - Up trending. Don't have much to say about $C other than it has been up trending after a long fall.
It hasn't broken the all time up trend either so I'm very confident about this trade!
Entry: 41
Target: 45.1
S/L: 39.7
Financials Are signalling ugly picture but bottom may be closeWill be at $40/41 with tight stop at $38.40. Real-time alerts go www.2waytrading.com
C Thanks for raising mortgage rates and not deposit rates, jerksNot really a technical play, but a mid-term investment: rate hike lift off means more money for banks (unless Fed cuts it again, which would suck and make this view obsolete).
Very little price memory til 164 from here.......why was my stock of the year last year (guess I was early, but I'm long)
C Short based on divergenceLooking for a move lower based on a divergence between the price action and the stochastic. Price has made a higher high and the stochastic did not. Any weakness in the market has the potential to move the stock lower. If the market opens up tomorrow and there is any weakness in the stock I will enter July Puts.
C Waiting to break out of inv h&s (daily)If C manages to break out of the inverted head and shoulders, i see the following possible long targets:
T1 May-Jul: 60
T2 May-Dec: 80
A close on or above 54.80 is a confirmation of a break out. Price below 53.31 would require reevaluating the situation.
C - Supply Level ReachedSupply level line reached. Takeaway is probably just a few percentage points here.
Citi missed on their January earnings by 33%, so I don't understand the recent surge here... Shorting.
C Day Trade Retest Gap (Brad Reed Mar12,2015)C expected to open at 54.09 for a Retest Gap To learn to trade this strategy for free, go to www.RealLifeTrading.com
C - Awaken the sleeping giantCiti has been consolidating for about a year now. EMA's aren't extremely bullish but they're headed higher. Oscillators (Stochastics, RSI and MACD) look good for a bearish move. Just broke through the BB today with the relatively large shaved top candle. ADX is resting at 20, so it has plenty of room to get into the swing of things if C decides to make a run at closing the long standing gap.
Citigroup bullish shark & moreFriends,
We currently have a bullish shark pattern forming on the daily chart on Citigroup. The pattern will complete at 48.20's level, and expires at 47's level, the entry level for the shark pattern is confluent with structural support, increasing the integrity of this pattern.
Citigroup is also currently in a area of historic support/resistance. This is an area where people are looking for buying opportunities. I'm keeping my eye on this one at the moment, looking for a buy opportunity. The stochastic is currently in an oversold condition, and probably will be the for next few days, so buying pressure might begin to take fold and show some bullish signals. The S/R zone could prove to be a good zone to buy this, BUT at this moment in time it is NOT ready to buy. But over the next few days a buying opportunity could possibly arise in this historic S/R level.
(Note: We've been bearish on the last 2 days candles, and todays candle SO FAR.)
Good luck traders.
