A reader recently asked me for my take on Citigroup (C), as to whether or not the stock was perking up enough to warrant interest. I thought we’d take a quick look at the Weekly Chart and note the differences in the Logarithmic and Arithmetic charts and note a key level for bulls to watch.
With all eyes being focused on the Financial Sector, I thought it would be helpful to key-in on four key financial stocks and look at their daily chart: Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), and Goldman Sachs (GS). Let’s hit the high-points on each one. Bank of America (BAC): Bank of America…
The rounded reversal pattern is one of my favorite patterns because of the ease in recognition and edge characteristics inherent in the pattern… but of course not all patterns work to our expectations. Let’s look at a large-scale (weekly) failed rounded reversal pattern in CitiGroup (C). CitiGroup (C) Weekly Chart: As Citigroup began making new…
Financial stocks were hardest hit in Tuesday’s market decline and I wanted to highlight the XLF Financials ETF (which broke its November lows today, falling 16%), Wells Fargo (WFC) which fell 24% today, and CitiGroup C which declined 20% today. First, the broader XLF Financial ETF: I’ll take a quick view of each stock’s technical…