Citigroup Inc Stock Code C.NYS
Outlook
Price moved below the cloud yesterday. This could be the start of a downtrend. Conversion and Base lines had a bearish crossover confirming the downtrend. Lagging Span was below the cloud as well, reinforcing the bearish trend. MACD has started to turn bearish with both its lines below the zero line. Price also broke and closed below a trend line from 24th Dec 2018, connecting with the low of 3rd June. Price is likely to decline to the previous low of $60 which is also close to the Fibonacci 50% of the rally from 24th Dec 2018 to the high at $73.26.
Strategy
$65.80 Short Sell
$60.02 Price Target
$68.50 Risk Management Stop
3 weeks Trade Duration
Broadcom Inc. Stock Code AVGO.NAS
Outlook
Price dropped below the cloud yesterday, confirming the bearish trend. Both Conversion and Base lines had a bearish crossover last night as well, reinforcing the bearish trend. MACD has turned bearish with its slow line about to cross below the zero line. Lagging Span is below the cloud, confirming the bearish trend. The bearish trend could bring price lower to $239.07, according to the Ichimoku E projection
Strategy
$268.70 Short Sell
$239.10 Price Target
$285.30 Risk Management Stop
3 weeks Trade Duration
