Today we'll analyze the Stock C for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 22.50$ (03/20/08) to 20.83$ (03/28/08) a 1.67$ move
2- The current bullish trend started from 20.83$ at 03/28/08 and is currently trading at 24.08$.
3- According to ADX, the trend is currently strong bearish, which is getting stronger.
Short term chart patterns :
4- The Stock formed a 9.91$ height triangle which was broken up at 24.08, target of the pattern is 33.99.
Mid term chart patterns :
5- The Stock formed a 9.91$ height triangle which was broken up at 24.08, target of the pattern is 33.99.
Long term chart patterns :
6- The Stock traded in a bearish channel identifed by support at 19.78 and 24.17, resistance between 29.69 and 53.17 which was broken up at 24.08.
Conclusion:
C was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .
Resistance Levels: 33.99,.
Support Levels: 23.82, 23.31, 22.84, 22.45, 22.07, 20.83, 20.45,.
We Moved!!
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Monday, April 7, 2008
Citigroup Inc. (C) Technical Analysis
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Shadi
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