Citigroup Daily Chart

Someone submitted a request to look at Citigroup  C. 


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We are looking at C on a daily chart going back about 7 months. This stock loves to trade within ranges, making it a little more predictable. Price recently came up off of a very strong level of support going back  2 years. Looks like the bears stepped in right at this 3 month falling resistance, trying to hold it down. This range will continue to get tighter and tighter until something breaks.  Odds are with the bulls on this one. I will look to start a position on the successful breakout and back test of this falling resistance on high volume. If you want to get a little more speculative, you could add, or start a position near trend line support if we fall back down. That would sit near 4.45-.46.
 macd is nearing the 0 line, we have a triple bullish divergence on macd histogram with a successful cross. money flow still positive, near going negative. price closed Friday 2 cents above the 5 ema.

Where are we headed a little longer term?... i'll have that chart up tomorrow.  I will be using a 1 week chart.

PS.  stay posted for the breakout of this falling wedge. i'll be micromanaging that to get the best possible entry price.

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