Citigroup is currently forming a long term Rising Wedge. Currently Citigroup seems that starting an uptrend from Sept 2010 to Dec 2010 where the C stock price is trading above 20D, 50D and 200D MA. We can see that the 200D MA is trending upwards which is a uptrend sign. C also bounced off from the 200D MA support for the past 3 occasions. Current price looks like a good entry point for long term investment. The resistance is the Rising Wedge Resistance at about $5.00.
- Post author:Marubozu
- Post published:December 5, 2010
- Post category:Citigroup (C)
- Post comments:0 Comments
Tags: Rising Wedge