Citi Group (C) since 2007 highs is much lower in price. Over the past 18-months, its a different story for Citi! Below looks at Citi this year and how it is attempting to breakout from a bullish pattern-
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Over the past few months, Citi appears to have created another bullish ascending triangle. This pattern results in an upside breakout, two-thirds of the time. As mentioned above, Citi looks to have formed a bullish ascending triangle pattern at (1), where we applied a measured move calculation.
This week Citi is attempting to break out of the top of the pattern at (2). The measured move suggests that Citi could reach the $77 level, should it break out.
Full disclosure-Premium and Sectors members have been long this stock for months and should the breakout take place, to continue holding this stock.
