Thursday, July 29, 2010

Citigroup Support and Resistance Levels July 29, 2010 (C)

The stock is up a nickel at $4.14 in early trade.
Citi has been levitating on low volume from $3.85 and I would expect the gap from yesterday's $4.09 close to be covered before we see any sustained ascent.

There is no rocket surgery in the chart below, it just points out where the stock caught a bid or conversely where the selling stopped an up-move.

I like simplicity, I probably would have bought William of Ockham a beer.
Being that he ended up hanging out in Bavaria he probably would have accepted.

From DayTradingStockBlog:

http://2.bp.blogspot.com/_Fo0hStLoAKs/TFFoTtMYk4I/AAAAAAAACak/SBBQ8h9s5Qg/s1600/citigroupjuly29-2010.png