C Citigroup weekly chart showing a long term ascending triangle. The importance of the 5 level is obvious, not only the base line of the triangle but also the price threshold the big houses need to see to start buying large blocks. So the beat goes on. C has respected the lower rail of the triangle and this now sits in the 4.3-ish area with price at 4.5-ish. In the months ahead, should the ascending triangle pattern play out, and break out, then the target would be 7.3-ish, there is also a gap at 7 that would need filled.
On the other hand, should negativity come into play for the broad markets as the weeks tick along, and this pattern fail, that would spell a couple years of woes for the broader markets. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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