Citigroup (C): Buy on Dip?

Citigroup retraced and found support at the uptrend channel support (also the 61.8% FR) at about $42.23. The stock is still trading in an uptrend. If there is no earning surprises on April 15, 2013, C should continue the uptrend. The next immediate resistance is $47.68. 161.8% Fibonacci Target is $56.16.

C Apr12-2013

Option Trade

  • Strategy: Long Vertical Call Spread (Bullish Trade)
  • Short C May13 45 Call, Long C May13 41 Call
  • Entry Price = $43.44
  • Breakeven Price = $43.43
  • Max Profit = $624
  • Max Loss = $976
  • Reward vs Risk = 64%

Previous Analysis on Citigroup C.