City groupQuick analysis I don’t know anything about this stock. Looks like it’s breaking out with a big targeted move also a big W
TRVC trade ideas
Short BanksBanks are going to start needing to raise capital (or the Fed will raise capital requirements) to cover projected losses as the size of bad loans gets bigger. This will come from the growing size of corporate loans (public and private) as well as the growing size of bad mortgages in aggregate. Additional risk will come from over-leveraged funds and individuals who tank their accounts...as interest rates rise, the faster banks will make margin calls and break their clients. If clients have negative balances, the banks end up losing money on the margin loans. See recent events i.e. Archegos.
Citigroups "Massive Potential"Citigroup took a massive hit in the 2008 housing crash and never quite recovered. The investment bank is currently the largest position in Michael Burry's portfolio. The current hesitancy in tech stocks and the speculation over a "tech bubble" are causing a resurgence in value stocks and longer-term plays. Citigroup has been in a bullish trend since the crash and is only showing more signs of a pump. The fib levels are showing a possible run-up to 900$, but I will be taking profits at all of the levels marked, halving my position sizer at each. A stop-loss at 41.5$ would assure that you don't get caught up in any lower lows, as long as we stay in the bullish trend by making higher lows this position is safe.
resistance turning into support soon? huge resistance area here for C ! you can see how in 2018 and 2019 it got dumped lower every-time we hit this area. but like I've said resistance can easily turn into support. So if it breaks 73 look for a strong move to 80 in the next couple months. part of the sector rotation plays sector we saw run while tech stocks took a dump. but it looks like tech stocks are back this week! still a good long but big money might be more concentrated on tech in the short term. either way goodluck
Citigroup breaking out of the cup and handle patternNYSE:C is breaking out of the cup and handle pattern and holding up on the neckline. Stock is now targeting 80.84$, stop level at 64$.
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This is only my own view and not financial advice, do your own analysis before buying or selling
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Citigroup LongHi all,
I noticed looking at a few filters on my screener that there was some high dividend yielding companies all showing good benjamin graham numbers. It was immediately obvious to me that the vast bulk of them were in the financial sector, with the narrative of most of the worlds developed populations life changed by huge degrees and the flow of money slowed for most that lending would in turn go down. I got in at $45.31 in onctober and have bought in every other month since. current total position is sitting at +22%.
My initial investment was going to be long term (10Y) but I will re-evaluate if/when we reach the top of the window shown on the chart.
Banks gain momentum Potential gain:18%
Reward/Risk:5
Timeframe: 4-8 wks
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