Analyzing the options chain and the chart patterns of CFG Citizens Financial Group prior to the earnings report this week,
I would consider purchasing the $37.50usd strike price Calls with
an expiration date of 2024-8-16,
for a premium of approximately 1.20.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Bond pressure...
Pushing' down on me,
Pressing' down on you,
No man ask for...
Technical graph says that possible upside with NYSE:CFG stocks could be possible, with projected/ targeted line at 52W SMA.
With 6.20% dividends yield, double-digit operating yield and P/B just at 0.6, NYSE:CFG securities can be considered as quite undervalued.
The protection...
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 28.3/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
Citizens bank appears to be unfairly sold off amongst the SVB banking crisis. It has a solid balance sheet and a low P/E, with a high dividend yield. This gives lots of upsides to potential investors looking for a discount. I predict this will ride back up 25-30% in to the high 30’s within the coming weeks.
CFG is following a reinvigorated banking sector with a strong uptrend.
A recent pullback has left prices within my buy band.
G/G trend with 13/21 propulsion dots. RAF > Extreme and Vscore =1 has proven to be support.
Darvas 3.0 signal is further confirmation of strength.
Looking for a minor low breakout and a retest of highs.
Buy 21April23 42.5 Calls...
The PEAD projected a Bearish outlook for $CFG after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 80%.
CFG has formed some interesting patterns, Descending Broadening Wedge, which led to a breakout and trend confirmation of the green line
This green line is currently being tested and will likely hodl
A bounce off this line will lead to further continuation for the bulls, as indicated by the double green curve
The PEAD projected a Bullish outlook for $CFG after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 90.91%.
The stock is approaching an important resistance level of 51. If it breaks and closes, take it with targets of $60. Upside +17%
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Short 1000 $CFG
Long 694 $TFC
Mean Reversion Time: 18 Trading Days
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Short 100 $CFG
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Mean Reversion Time: 16 Trading Days
