Is Citibank (C) a buy?

Is Citibank (C) a buy?  NO.  It is not.  Why?  Let's look at some timeframes. 

Daily Chart.  This pullback has not triggered.  Don't even bother waiting for it.

Weekly Chart.  Confirmed downtrend.  Only managed a 25% retracement.  Weak.

Monthly Chart.  Confirmed downtrend.

Next Stop for Citibank is $16.

Stay Away.

Joel Stahl

Comments

[Patch]

Thanks for the heads up Joel - always nice to know what our mentors think and how you go about doing things, I appreciate your thoughts.

Is there any chance of making the chart a little bigger when I click on it, as its a little small to read properly.

Thanks.

[David]

Is the EFT DUG a buy?

[Anthony]

Hi Joel, There is a FSB Stochastic sell setting up in C as long as we dont violate the 61.8 retracement level. However as we also have a Blue XTL breakout is the FSB sell invalidated ? There is one form of selling in the last buyers bar with the close below the midpoint.

[Joel Stahl]

Ignore the blue bar. This is still a valid stochastic sell if it triggers.