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Citi Group- Bullish breakout taking place

Courtesy of Chris Kimble

pic for chris kimble post on C citi

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:

weeky chart of C citigroup, chris kimble chart

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.

From Kimble Charting Solutions.  We strive to produce concise, timely and actionable chart pattern analysis to save people time, improve your decision-making and results

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