US Financial stocks have been very bearish recently due to the debt concerns over PIGS (Portugal, Italy, Greece and Spain). This may present a good opportunity to buy some good financial stocks during this correction in May. Citigroup is one of the financial stocks for long term investing and I am waiting for the right entry point. Base on the chart, C is currently testing 50D MA. I am waiting to see whether C can stay above 200D MA support at $4.00 before deciding my entry point. If this 200D MA support is broken, $3.655 (61.8% Fibonacci Retracement Level) looks like a good entry point to start stock accumulation.
-800x600.png)
No comments:
Post a Comment