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SharePlanner (< 20)

Citigroup on the Verge of a Major Downturn

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October 01, 2013 – Comments (2) | RELATED TICKERS: C

I don't like to call major calls in a stock or index, instead I tend to focus more on the short-term which is far more predictable. But the bearish head and shoulders pattern that has been forming since May of this year in Citigroup (C) is far too troublesome not to mention. 

Once this stock drops below $47.60, it is lights out for the bigboy. 

Here's C's technical analysis:

2 Comments – Post Your Own

#1) On October 03, 2013 at 12:13 AM, JZ88 (48.42) wrote:

Just wondering where you see the downturn on C? They have posted higher that estimated profits on the last 5 of 6 quarterly projections. Although only showing modest growth the last year, when you say downturn what do you mean? I am new and just trying to learn from other fools.

 

JZ

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#2) On October 03, 2013 at 3:59 PM, SharePlanner (< 20) wrote:

Heavy distribution channel over the last 4 months without making a nice high. ONce it cracks that 200-day moving average it is going back down to $41-45 level. 

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