Citi-Potential double if this resistance taken out | 10/12/2017 | Staff
kshama-s (Posted by) Level 3
Citi Group doesn’t have much to brag about from a long-term perspective, as it remains 80% off its highs back in 2006. Citi has a good deal to brag about, per the gains it has achieved from its 2009 lows (Up several hundred percent).

A few months ago Citi faced a dual resistance test at (1), where enough buyers came forward and a breakout took place. Citi rallied nearly 20% in short order following the breakout at (1).

Rally - Months - Citi - Resistance - Test

The rally over the past few months, has Citi facing another resistance test at (2), which comes into play at the $77 zone. If Citi can find enough buyers and strength to take out this key resistance zone, it could attract a good deal of buyers as the price of Citi waterfalled in price between the $150 and $77 level. Potential reversal of this waterfall pattern about to take place? We humbly feel what Citi does at current levels will be highly important for it months from now.

If Citi...
(Excerpt) Read more at:
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!