--Financial Tools ---Futures Market---ADD HERE LINK-- OPTION ALERTS --BENZINGA--

« Home | Ferrari motorcycle concept » | Stocks to keep a look out for next week - Euronet ... » | Stocks to watch Friday - Edwards Lifesciences and ... » | The future green car of Honda » | Bearish stocks to watch tomorrow - Potash and Mosa... » | Trade Ideas for Wednesday - Trian Solar and Evergr... » | Trade Ideas for Tuesday - Rambus and Netflix » | Cristiano Ronaldo will become the most expensive f... » | Hot Solar stocks to watch next week : Evergreen So... » | Stocks to watch Friday - Juniper Networks and DayS... » 

Monday, June 22, 2009 

Bank Stocks to watch Tuesday - Bank of America Corporation and Citigroup

Chart courtesy of www.stockcharts.com ( click to enlarge )

C - Bearish Trading Condition. The technical daily chart shows that it is still to early to say that the downtrend has ended. According to the technical chart, shares of Citigroup have been trading below both 50 day and 200 day moving average, a very bearish sign. Negative MACD also indicates that the stock is a sell. However, please beware of the KD line which is now at 15 and could signal a buy when it begins to rise. Immediate support at 2.96 followed by 2.85. Initial resistance seen at 3.15.

Chart courtesy of www.stockcharts.com ( click to enlarge )

BAC - My technical indicators show that the current short term bearish outlook has big probability to continue. The stock broke the key level at 12.53. Further fall is now in favor. My model is short, targeting 11.13 area ( 50 day moving average ). If the weakness continues and the stock breaks this support, there will be a good chance that the stock will test the $10.56 support. Keep a close eye on BAC for the next few trading days.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you tomorrow !!!

AC

Labels: ,

Bookmark and Share

i think your article is a good news in deed.. knowing the fact that the downtrend in economy right now is ended?? hope things will be fine in world economy....

God Bless us alll

Post a Comment
Contact

About Me

    Photobucket
  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

  • Benzinga.com supporter

    Stockal supporter

    Benzinga.com supporter



    FREE NEWSLETTER

      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal

    Advertising

      Interested in advertising on AC Investor Blog ? Click Here

    RECOMMENDED



    TRANSLATOR

    Site Information

    Stock Market Blogroll

    Friends BLOGROLL

    ARCHIVES

Powered by Blogger
and Blogger Templates


Add to Google