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6 pts

Opinion on  Citigroup Inc (C)     Sector: Financial  >  Industry: Money Center Banks
Citigroup

Sep 17, 2009 08:42 AM GMT
Return Risk
+21.73% LOW
Analyst

Citi has been testing the supports and resistances for the past month. Recently, it dropped down to the 4.10 ish.... range, and jumped back up; probably going to be a strong support, but I'm not sure yet. If Citi keeps closing above the 10 day moving average, and hops back to the 4.30ish support range, I'm considering a buy. I bank with citi and they seem like nice reasonable people. They are in the process of cutting government grips in the company too. This can be good or bad I guess; it's going to be sink or swim for them, but I feel that they are going to make it.
 


C:  This call was made on 09/17/09 @ $4.2
Rating:   Neutral/Hold   $4.2 (09/17/09)
Gain/Loss:   +540.95% in 985 days
Target:   $5.30 (+26.19%) in Three months


Comments (14)

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nylao   N/A     1 point   commented 984 days ago reply

Citigroup Inc. (branded Citi), is a major American financial services company based in New York, NY. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998. Citigroup Inc. has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company employs approximately 322,000 staff around the world, and holds over 200 million customer accounts in more than 140 countries. It is the world's largest bank by total customers & worldwide branch network as of 2009. It is a primary dealer in US Treasury securities. Citigroup suffered huge losses during the global financial crisis of 2008 and was rescued in November 2008 in a massive bailout by the U.S. government. Its largest shareholders include funds from the Middle East and Singapore. On February 27, 2009, Citigroup announced that the United States government would be taking a 36% equity stake in the company by converting $25 billion in emergency aid into common shares. I think the company will not need any installment loans.

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sinboy32   N/A     1 point   commented 792 days ago reply

If Citi keeps closing above the 10 day moving average, and hops back to the 4.30ish support range, I'm considering a buy. I bank with citi and they seem like nice reasonable people. They are in the process of cutting government grips in the company too. This can be good or bad I guess; it's going to be sink or swim for them, but I feel that they are going to make it.
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