The following is long term Citigroup Inc. ( C ) stock technical analysis for October 19, 2009Citigroup Inc (C:NYSE) Support & Resistance Levels - 10/19/09
Resistance Levels: $5.00, $5.43, $6.50
Support Levels: $4.50, $4.15, $3.80, $3.58
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I've been doing a lot of short term trading stock analysis on Citigroup Inc (C:NYSE) lately, now I want to take a longer term approach. After all, I recently started a long term position in the stock in which I have a 1 year price target of $8-$10 per share.
Resistance continues to be located at $5. When Citigroup closes above $5, I will add to my holding. I will also buy when Citigroup breaks the $5.43 high which will signal a new break out. Citigroup will have major resistance at $6.50 but once the stock closes over that level, I feel the lower end of my target of $8 will soon be met. As for the downside, there is a major test of the 50 day moving average going on. If Citigroup closes below the 50 day, the only way I will buy is if the 200 day moving average is retested ( currently $3.58). When I build a long term position, I only buy Dips to the 200 day moving average For more Technical Analysis - Go Here
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