*click to enlarge
I think we have a wedge forming in CITIGROUP stock, there's NO PLACE left to go here, which way she gonna break? 200 EMA LONG WAY OFF pheww.
This is one of the largest banks left. HEAVY in consumers too.
As best I am able to tell, I cannot know for sure rally from MArch lows is done, what I can say to the best of my ability and observations, there is a GREATER "chance" this rally represents JUST a rally in anongoing BEAR market, and NOT the start of a NEW BULL MKT.
If I am right, caution is what I will observe, and NOT go chasing this thing long into the night, the time to consider some risk taking was months and 40% lower ago, IMHO
SOLID Bear bottoms, take time, usually get tested, and rally don't usally break MUCH above the declining 200 EMA first go round either.
It's all about risk/reward IMHO with the markets, and I think the risk is staying TOO long in a bear market rally.
D
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