C Analysis for 11.04.2007

CITIGROUP INC - C

Monthly chart shows a double top in place. Price is currently below all moving averages and key support/resistance areas. Karen Finerman went long on Friday using options, however, I see no signs of strong support or strong buying on this timeframe. Friday's selling pressure found short term support off the .618 fib level for now.

Weekly chart shows possible 5 waves down into Friday's support. IF this is 5 waves, THEN look for signs of buying to retrace the 5 waves down.


Daily chart shows price below all key moving averages. Look for a strong buy signal before entering long for larger move. IF buy signal is weak, THEN look for a sell signal and for downside target of $32 - $31 range for now.