Thursday, January 06, 2011

Citigroup has broken above its triangle at USD4.80

For those who set their sight far & wide, you may take a look at Citigroup, which has just broken above its symmetrical triangle at USD4.80. I do not have a target for this stock but I believe the long-term prospect of Citigroup is fairly good. For a closer look at how far this stock has dropped since its heydays, go to Yahoo Finance (here).


Chart: Citigroup's daily cahrt as at Jan 5, 2011 (Source: Stockcharts)
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6 comments:

  1. xThursday, January 06, 2011 11:55:00 PM

    hi alex,

    please comment on dialog

    tq

    ReplyDelete
  2. PEGGY MethodFriday, January 07, 2011 12:07:00 AM

    Kasset may going to break out the resistence. But volume is low. Anyway, still learning chart.

    ReplyDelete
  3. UnknownFriday, January 07, 2011 12:02:00 PM

    Thanks for sharing the chart.

    I totally agree with you. This stock is good for long term.

    Currently Citigroup is trading below Book Value per share. It is worth buying.

    Stockworthiness

    ReplyDelete
  4. UnknownSaturday, January 08, 2011 7:42:00 PM

    Thanks for sharing Mr. Alex.
    Agree...

    With in 5 year's , i predict this share will go until USD 30 and above , beside if the crisis strike again ...
    T.Q :)

    ReplyDelete
  5. Alex LuFriday, January 14, 2011 3:43:00 PM

    Hi Polite Market

    Kasset broke above its horizontal resistance at RM3.70 & could test the psychological RM4.00 mark. This stock is riding on bullish sentiment for the property sector & the possible acquisition of the Garden from its parent (since the announcement of its proposed issuance of RM300 million bond).

    ReplyDelete
  6. Alex LuFriday, January 14, 2011 3:52:00 PM

    Hi x

    Dialog's current rally from RM1.10 in mid-2010 to RM2.20 recently reminds me of another fantastic run by the same stock in late 2006 to mid-2007 [where it rallied from a low of RM0.40 to a high of RM1.50]. Of course, everyone would tell you there is positive news flow driving the stock higher now. Well, positive news flow also drove the price higher in 2006-7 but after it peaked, the price dropped back. The same story will play out again. Has the stock peaked? We have to wait & see. At this price, the risk outweigh the reward.

    ReplyDelete