Tag: Citigroup

CITIGROUP INC. Stock Code C.NYS

Outlook

Price broke above the cloud on 19 July, changing the chart trend to bullish. Since the break above the cloud, price has been consolidating just above the cloud. Conversion and Base lines remains in a bullish crossover, hinting at a bullish price trend. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend. MACD is bullish with both its lines above the zero line. We think price is likely to move higher to the previous high at $57.15 in the next 2-3 weeks.

Strategy                  

$51.75                Buy

$57.15                Price Target

$48.80                Risk Management Stop

3 weeks              Trade Duration

Archer Daniels Stock Code ADM.NYS

Outlook

Price failed to move above the cloud during a price correction and in the previous trading session, price broke below the cloud, hinting at a resumption of the bearish price trend. The previous correction stopped right at the Fibonacci 62% correction point as well. Lagging Span is below price of 26 days ago but is inside the cloud. MACD is bearish and hinting at a bearish price trend. We see price moving lower to the Fibonacci 127% price projection target as well as a previous price resistance turned support at $77.67.

Strategy 

$84.65                Sell

$88.90                Price Target

$77.70                Risk Management Stop

3 weeks              Trade Duration

Salesforce.com Stock Code CRM.NYS

Outlook

Price tested the cloud recently but was unable to break above the cloud. In the previous trading session, we saw price gapped down below the cloud. The gap in price is hinting at a bearish price trend ahead. Lagging Span is above price of 26 days ago but is below the cloud. MACD is bullish but a likely bearish crossover is hinting at a bearish price trend. We think price is likely to move lower to the previous support at $153.63 in the next 2-3 weeks.

Strategy 

$181.00                Sell

$153.40                Price Target

$189.30                Risk Management Stop

3 weeks              Trade Duration

Citigroup Inc. Stock Code C.NYS

Outlook

Price tested the cloud but was unable to move above the cloud. In the previous trading session, we saw price move below the cloud, changing the chart outlook to bearish. Lagging Span is above price of 26 days ago but is below the cloud. MACD remains bullish but could be about to have a bearish crossover. We think price is likely to move lower to the next price low at $46.58 in the next 2-3 weeks.

Strategy 

$51.30                Sell

$46.60                Price Target

$53.95                Risk Management Stop

3 weeks              Trade Duration