Page 196 - DCOM504_SECURITY_ANALYSIS_AND_PORTFOLIO_MANAGEMENT

Unit 6: Technical Analysis

Notes
remain elevated through most of 2010. We think that due to dilution and asset shrinkage,
C probably will not regain the earnings power it once had, but we see the successful
shedding of assets from Citi Holdings and solid core earnings from Citicorp pushing
these shares higher."
Stock technical analysis for Citigroup shows that the stock has been moving along a tight
channel since late July, and is fast approaching its Year 2009 high of $7.59. A check of the
Fibonacci (upward) Retracement shows the next resistance at $5.93 at the 61.8% level,
taking the near-term peak of $9 in Dec 2008 and the low of $0.97 in Mar 2009. The stock
price cleared its 50% retracement level at $4.99 with ease on Aug 27, 2009 on above average
volume.
Stock Technical Analysis for C (Aug 28, 2009)

Portfolio (28 Aug 2009)

Contd...

LOVELY PROFESSIONAL UNIVERSITY 191