Citygroup’s chart shows great potential

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.
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