Citi multi-day swing (regression)
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Good Morning!
Citi Group has been in this channel for a few months now. A key level for me to take a neutral-bullish trade was the $66.50 area. The support and resistance zones are fairly clear. I believe we will see Citi climb back up to the $71-$72 area. I like stock for Citi Group as this company is cheaply priced and a good stock to own.
My first two PT's are easily achievable, and based on historical chart data we will be back in the $70's within a few days. That's the technical view but fundamentally, financials as a sector aren't that strong right now.
The price moved up a little overnight, not surprising. The price normally doesn't consolidate around this level but if it does that can indicate a bigger potential move in either direction (hopefully up).
Cheers.
Citi Group has been in this channel for a few months now. A key level for me to take a neutral-bullish trade was the $66.50 area. The support and resistance zones are fairly clear. I believe we will see Citi climb back up to the $71-$72 area. I like stock for Citi Group as this company is cheaply priced and a good stock to own.
My first two PT's are easily achievable, and based on historical chart data we will be back in the $70's within a few days. That's the technical view but fundamentally, financials as a sector aren't that strong right now.
The price moved up a little overnight, not surprising. The price normally doesn't consolidate around this level but if it does that can indicate a bigger potential move in either direction (hopefully up).
Cheers.
Zlecenie aktywne
Locking in some profit from NOV 19 
68C's and 70c's. Just closed the short call side of my spread and now it's really printing. Congrats if you're in this trade.
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