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Citigroup (C) at a make or break point

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August 22, 2013 – Comments (3) | RELATED TICKERS: C

I nailed my previous call on the action in Citigroup earlier this month when I said that the stock would fall, in short order, down to $48-49 level.

Here was the chart I posted;

 

However, now the picture becomes a bit more clouded. One could say it could bounce here and retest $52. But if it doesn't it will head south to the $45/$46 level.

If I had to pllay it here, I would look for a shor-term bounce.

Here's the chart's analysis as it stands now:

3 Comments – Post Your Own

#1) On August 22, 2013 at 10:58 PM, awallejr (85.46) wrote:

Back in 2009 I loved this stock.  A cup of coffee bought you 1-2 shares.  However this stock has gone nowhere for years.  It peaked at $5 (now $50 after reverse split). It has gone nowhere for years since.

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#2) On August 23, 2013 at 8:04 PM, EvanBuck (99.81) wrote:

@awallejr Pretty much true, except that C has increased 63% since August 23 of 2012.  So, it depends on what perspective/year you are looking at.

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#3) On August 24, 2013 at 12:15 AM, awallejr (85.46) wrote:

Just do a 10 for 1.  It hit over $5 a couple times before the reverse split. Right now it is under $50, so less than what it did years ago. If you owned this stock before the 2008 crash, you got crushed. And what it is doing now nowhere near makes up for the loss. Dodd-Frank will hurt it further.  My advice, stay away.

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