I hope you took profits on Citi above $14.50, locking in a 25% gain. I suspect that the current decline will be the final push, the catharsis! (Here is your chance to click on this word and check its meaning!). Unlike the previous trade, we should aim to hold the stock for longer. In time, we will see the price double. Don’t be alarmed if it falls more than my suggested target. (Remember, I originally said we could see it down to $10.40. Refer this post ). We are turning medium-term investors in Citi now! Good luck!
- Elliott Waves
- Elliott Waves Explained
- Elliott Wave Magic Illustrated with Wave Charts
- Elliott Wave Edge – How Elliott Wave Traders Win
- Fibonacci Number Series and Elliott Waves
- How to use Fibonacci Ratio Retracements
- Elliott Wave Books
- Ramki’s Watchlist
Get ready to buy Citi
Previous ArticleGet ready to buy Reliance Industries
Next Article Blood on the street as Sterling chops around
I’ve been short since 11/5. You’ll notice that the most recent occasion Citi rallied off the lower trend line Volume was very low compared to the previous occasions. And during the rally volume declines successively as hit slowly goes higher, and when volume finally comes in it falls hard. And now that its hitting new lows there’s still no volume,no buying power to be seen. There just seems to be no demand at all for Citi at these prices. Good trading.