Citigroup (NYSE:C) – Time to Wake Up Bulls

Citigroup (NYSE:C) is the 3rd largest bank in the United States. Since the crash of 2008, its stock wasn’t able to recover 15% of that decline compared to other Banks like JP Morgan or Goldman Sachs. 2018 wasn’t a good year for the entire market and Citigroup wasn’t any different as its stock price is currently down 26% year-to-date.

Many investors are currently afraid of catching the falling knife as they are focusing on the short term perspective. However, if we focus on the right cycle and sequence with the help of the Elliott Wave Theory we can understand that with every drop comes opportunities in specific areas that can be used for investing or trading.

The market nature & the Elliott Wave Theory states that an impulsive 5 waves advance is followed by a corrective 3 waves lower. After the 3 waves pullback, the market can resume the move within the previous main cycle in 9 or 13 swings higher or the bounce can fail for the instrument to continue the correction lower in 7 or 11 swings.

The Following chart show Citigroup price action with the representation of the 5 waves advance and now 3 waves pullback.

The highlighted blue box in the chart above represents the calculated target for the corrective structure taking place and entering the range of $58.77 – $48.59. It is the area in which the 3 wave regression lower can be ending. Therefore, bulls are expected to show up for a Long opportunity either to resume the previous bullish cycle from 2016 low or produce at least a 3 waves bounce.  should see a bounce higher and also now is the time to expect the Fundamental analysis to align with the aforementioned brief primer on the technical.

We use these extreme areas to look for inflection points in terms of price reaction or to reverse a prior trend, consequently Citigroup is expected to see a recovery in early 2019 after ending the current cycle from 2018 peak.

ElliottWave-Forecast has built its reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 50 instruments including FX majors, Gold, Silver, Copper, Oil, Natural Gas, Soybeans, Sugar ,Corn TNX and a number of Equity Indices from around the World. Our clients also have immediate... More

Disclainer: Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN elliottwave-forecast.com is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be sued and/or charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.