ImPO C is a BUY now, closing price $20.48, stop HAS to be below $18 & target is from $27-32+, holding period about 7-10 weeks. I posted this tonight because of the way Daily chart looks, confirms bullish sentiment. Best to all! <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1958676>
Hard one to call. Shorts have been hammering this baby for a long time now. Lowest level in more than 8 years.
My opinion is 100% chart based, personally I don't trade stocks, this is more of an outlook on the way the chart looks, which may benefit a person bullish on C for other reasons, timing wise ImPO this is ripe for a retracement at least, looking at the daily chart momentum ought to be sufficient enough to prevent a touch of under $18 zone. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1958699>
I agree on the short term, I see it as a buy. However I see (saw?) the markets doing at least one more dip before a leg up. However Friday's action has me wondering.
Wait it out a little longer but this stock is a definite buy long term. They need to release some of their holding first. By all mean its a steal though below twenty, if your waiting long term.
i see what you are looking at but i think there are easier trades out there. your profit target is pretty lofty considering more strains are appearing with financials.