This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.
A month ago, we had witnessed a banking debacle. 2 big US banks and 1 mega Swiss bank went under.
That sparked a selling frenzy and the share price of banks slid.
While the stock of most banks are still struggling, the stock of Citigroup is showing some promise. Therefore, shall we analyze Citigroup’s shares and find out if it’s a good idea to position trade them?
Brief History of Citigroup
Source: citigroup.com/global/about-us/heritage
Founded in 1811, Citigroup started off as a bank.
Through the years, Citigroup had experienced many tough moments, and it managed to survive them all.
It has also seen its fair share of success by being the largest bank in the US in 1895, the first contributor to the Federal Reserve Bank of New York in 1913, and more.
Via mergers and acquisitions, Citigroup rose to the top, ranking one of the top banks in the world.
Business Model and Financials
Source: tradingview.com
Has Citigroup been financially strong and healthy?
Let’s have a quick look at its total revenue (blue bars).
Citigroup’s total revenue has been growing every year, with 2020 and 2021 as the exception.
This is reassuring.
The next metric you’ll want to look at is its net income that’s depicted by the red bar.
Citigroup’s net income has been fluctuating significantly, dipping into negative numbers in 2017.
It looks like Citigroup isn’t that financially strong.
Should you be worried as a position trader, especially after the banking saga?
Let’s have a look at its price chart for clues.
Technical Analysis on Citigroup (NYSE: C)
Just by looking at the chart above, I’m able to come to a conclusion if the shares of Citigroup are ready for a position trade.
Wait a minute…
There’s no need for support and resistance lines?
Yes, there’s no need for support and resistance lines when you have these test and proven indicators.
The 2 indicators that you should pay the most attention to are the arrows and Trend Impulse Factor.
Because you are looking to buy shares of Citigroup for a position trade, you’ll want to see a green arrow under its latest candle.
And the green arrow is out!
Next, you’ll want to have a look at the bar of its Trend Impulse Factor indicator. You’ll want the bar to be in dark green which suggests sustained momentum.
Back to the chart of Citigroup (NYSE: C), do you see both indicators agreeing with each other on its latest candle?
Congrats!
You’ve found a gem for a position trade!
Conclusion
Source: unsplash.com
Citigroup is a well-established international bank.
Despite the massive challenges it has faced, it has managed to overcome them all.
Though its financial health isn’t the most ideal, its shares are exhibiting strength.
As position traders, the price chart of any counter holds more weight.
The 2 indicators on its chart suggest that there’s a good position trading opportunity.
Both the arrow and Trend Impulse Factor indicator have been tested and proven. They form the TradersGPS (TGPS) system to help you decipher if a stock is ripe for a position trade. You won’t have to feel in the dark and make wild guesses.
If you’re struggling to make money from the market, just do this ONE thing in 2023:
If you’re like most people, you probably think that building a profitable side income stream from the stock market is something that is extremely difficult to achieve, and time-consuming as well.
And you probably know that one friend or relative who has lost a lot of hard-earned money to the market despite being ‘experienced’.
And especially since 2022 was a time when we saw many people in the red, bag-holding 20-80% losses…
It’s understandable to see why most people have such a grudge towards the idea of profiting from the market.
But what if I told you that amongst the many skills required to be profitable in trading…
There is one simple skill that will never make you feel that making money in the stock market is difficult ever again?
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If you have heard of this before but still do not have it figured out yet, let today be the day you get it right.
You see, the #1 problem with most ‘experienced’ traders who just can’t seem to make money consistently from the market despite having consumed tons of learning resources & materials is not because there is a problem with their strategies.
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Stocks that have very bad set-ups, price movement, and in general just a low probability of moving in the direction you wish for.
In fact, this process of picking the right stocks is a crucial step that most people don’t even think about.
Ask yourself this, what is your current process for knowing what stocks to buy?
Companies that you like such as TSLA, META, AAPL etc..?
Stocks that your friends tell you to buy?
Stocks that you read about in financial news, blogs or Youtube videos?
Or even stocks that you spend hours reading up their financial reports and doing fundamental analysis?
If you have done any one of the above, you are making a dangerous mistake and that has to change.
Knowing how to pick strong stocks with the highest profit potential using a proper proven strategy is half the battle won.
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That’s how exactly I was able to still execute 20-40% and higher trades last year when the entire market was down.
So if you think profitable trading is difficult, think again.
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P.S You can also get to ask me any stocks you are currently thinking of buying and I’ll show you if it’s a strong stock and whether the odds are stacked in your favour or not!
