David Gaffen notes today that Citigroup shares are now trading at a 2-year
low of $43.97 per share. He then quotes this wonderful piece of advice from
technical analyst Joseph Hargett:
The $45 level “has not been breached on a weekly closing basis since
October 2005, and could be seen as a buy/sell indicator for anyone considering
investing in C,” notes Joseph Hargett, analyst at Schaeffer’s
Investment Research.
So there you go. If you want to buy Citigroup, this could be a good time to
do so. Or, on the other hand, it could be a good time to sell. Does anybody
have a coin I can flip?