Thursday, January 14, 2010

C: Trade with a 10 cents risk- citicorp stock

C- Citibank, Citicorp stock- should one buy this stock? It is a million dollar question. If you decide to buy, in one year, you can brag about it or regret..If you do not buy it now, in one year, you can regret or label yourself as a smart investor. I think this is true for any stock but I guess this is very important about C right now.

What the prices are telling me?
It is between a longer term resistance line and short term support line. The 'new offering day' low was a key reversal day so this is a real tug of war on the chart.
Investors- better wait and watch for 10 more days. Traders? Think of options or a gamble 10-20 cents for 5 to 10 times return.
This boring stock seems to be dying for some action

Update (January 19,2010): Citibank announce numbers- it is loss. The stock opened lower, touched 3.40 and now it is trading in positive. This is REVERSE (Buy) as per Profit from Prices. Let us hope it closed in positive.

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