Citygroup’s chart shows great potential

Posted on October 31, 2013 by Stock Trade Journal

Citigroup has been stuck in a trading range since April this year. It encountered resistance around $50 back in August 2008, April 2010 and January 2011.
What is interesting on the chart this time is that the 200 DMA has been trending higher. I am looking at a trade if it breaks $52 for a $65 target with a stop just below $48.
The Reward / Risk for the trade is 3:1

About Stock Trade Journal

The information in this blog is not investment advice. Please consult a financial advisor before investing. I have been trading stock since the 1990's and survived the .com crash. I am developing software applications to help me trade better and now I am making them available to help other traders. This blog is also a way to share my experiences and observations in the market.
This entry was posted in General Info, Risk Management, Trade Analysis, Trade Entries, Trade Planning. Bookmark the permalink.

Leave a Reply

Your email address will not be published.