Wednesday, July 14, 2010

Citigroup bracketing 200 day Exponential Moving Average (C)

Talk about a nervous stock!

Fear: that it will repeat the April reporting season action; up into good numbers, down on resumed Treasury selling.

Greed: the stock will be higher over the next 18 months, perhaps hitting Dick Bove's $8.50 target.
Here's the chart via Trader Mark:

Which for some reason reason reminds me of Joey's line in the 'Friends' episode "The One With The Yeti":

Ross: Well, her thought is, and I agree, fresh new furniture, why not a fresh new apartment? Her cousin has this great place to sublet, it's got a view of the river on one side and Columbia on the other.

Joey: That's way uptown! That's like three trains away! (Phoebe pinches him.) Which is great! I love to ride that rail!