Citigroup's most recent trend suggests a bullish bias. One trading opportunity on Citigroup is a Bull Put Spread using a strike $65.00 short put and a strike $60.00 long put offers a potential 14.42% return on risk over the next 10 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $65.00 by expiration. The full premium credit of $0.63 would be kept by the premium seller. The risk of $4.37 would be incurred if the stock dropped below the $60.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Citigroup is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Citigroup is bullish.
The RSI indicator is at 52.7 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
LATEST NEWS for Citigroup
Citi Celebrates Its 14th Annual Global Community Day With 110,000 Citi Volunteers In More Than 400 Cities Around the World
Sat, 08 Jun 2019 12:00:00 +0000
Today, Citi celebrates its 14th annual Global Community Day with 110,000 Citi volunteers in more than 400 cities across 90 countries and territories participating in service activities in their local communities.
Financial stocks turn lower after big miss in jobs data
Fri, 07 Jun 2019 12:42:00 +0000
Financial stocks swung to losses in premarket trade Friday, after a big miss in the May jobs report sent Treasury yields lower, which could weigh on bank profits. The SPDR Financial Select Sector ETF fell 0.4% in premarket trade, after being up 0.3% just before the data was released. Among the ETF's most heavily weighted components, shares of J.P. Morgan Chase & Co. fell 0.7% after being up 0.3% just before the data; Bank of America Corp. swung to a loss of 1.0% after being up 0.3%; Citigroup Inc. dropped 1.1% after being up 0.3%; and Wells Fargo & Co. lost 0.7%, after gaining less than 0.1%. The yield on the 10-year Treasury note fell 3.9 basis points toward a 21-month low of 2.084%. Lower longer-term interest rates could hurt bank profits, as it could narrow the spread between what the banks make on longer-term assets, such as loans, and the costs of shorter-term liabilities. Meanwhile, futures for the Dow Jones Industrial Average inched up 4 points.
Investments in Tech Make Bank of America Stock Look Even Better
Fri, 07 Jun 2019 12:10:54 +0000
The banking industry, like most others, has tapped into some amazing technological developments that have taken shape in recent years. None have arguably embraced the use of tech as Bank of America (NYSE:BAC) has, however. It isn't quite a tech company that also happens to operate a banking business, but an investment in Bank of America stock certainly does have a lot going for it, tech-wise.Source: Shutterstock Bank of America continues to innovate, not only saving money by doing things differently but leveraging technology as a means of building its business. Bank of America Stock and Cloud ServicesIt's not like rival financial institutions are simply sitting on their hands. JPMorgan Chase (NYSE:JPM) is proud of the fact that it's developed a cloud infrastructure shielded enough to start putting confidential client information in the hands of public (third party) cloud services like those offered by Amazon.com (NASDAQ:AMZN). Wells Fargo (NYSE:WFC) has also embraced (and invested in) the idea of collating data into a business-development tool.InvestorPlace – Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Buy That Could Be Takeover Targets With the exception of Citigroup (NYSE:C) though, Bank of America has taken a different approach and is better for it. That is, Bank of America handles most of its cloud computing load using its own private cloud solutions, powered by 10,000 of its own servers.The upside is two-fold. Aside from being most cost-effective than paying a provider that marks up such a service for a profit, an in-house network of all the bank's operations provides a better picture of its customers' experiences."You can only really do that if you've actually got a kind of homogeneous cloud environment on what your applications sit upon," said Howard Boville, Bank of America's chief technology officer. "We're harnessing that benefit in terms of being able to focus upon where we have issues we want to improve the quality of the service going forward."The bank's developers and coders appreciate the fact that more access to the bank's architecture doesn't come saddled with concerns about added costs."You then are doing it in terms of the resources that you have and not islands of resources that can be used," Boville said. Bank of America Stock and Ancillary TechGreater efficiency and a clearer picture of its customer experience isn't the only upside of a different approach to the use of technology. Bank of America has also gotten traction with customer-minded artificial intelligence.Case in point? Erica has been a smashing success.Erica is Bank of America's virtual assistant, and much more than just a simple, online conversational list of FAQs. Accessible via an app, the AI-driven platform handled 50 million client requests since its launch in June of last year. And, with more than half a million new users utilizing the added option every month, Erica's second year is sure to be busier.At the other end of Bank of America's spectrum, its Merrill Lynch arm has made its so-called robo-advisor option a success too. Called Merrill Edge, as of September of last year it surpassed $200 billion worth of assets just since launching in earl 2017. The investors in Merrill Edge's sweet spot, people just starting to accumulate wealth and assets as they move into their high-income years, is the same demographic that loves the way technology keeps their lives organized.Now Bank of America is adding an enhancement to that largely digital self-service option, adding an option for Edge customers to also speak with a human financial advisor.In February, the bank unveiled a digital toolkit for entrepreneurial customers an offering that doesn't directly do anything to build the business. Indirectly though, Bank of America's willingness to use tech differently extends well beyond its in-house cloud. It also is the kind of service that can help grow Bank of America stock. Bottom Line for Bank of America StockIt's not a reason in and of itself to step into the stock. While Bank of America may "do" tech better than most if not all of its peers, it's still a bank. It still has to sell banking services and do so profitably.Like all other organizations that have melded the consumer-facing and back-office operations by the use of new technologies, Bank of America's well-thought-out technology plans have made it easier to become and remain a superior banking investment.In that regard, its technology efforts certainly don't hurt the bullish case for BAC stock, even if it's an aspect of the company that's overlooked more often than not.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * The 4 FANG Stocks Won't Be Bitten By Regulation Threats * 10 Stocks to Buy That Could Be Takeover Targets * 4 Big Bank Stocks Rebounding Compare Brokers The post Investments in Tech Make Bank of America Stock Look Even Better appeared first on InvestorPlace.
Global Banks to Pay $91M in Settlement for FX Manipulation
Fri, 07 Jun 2019 11:06:11 +0000
Swiss COMCO fines big global banks around 90 million Swiss francs ($91 million) for rigging prices in the foreign exchange market.
Venezuela loses $1.4 bln of gold to banks for guarantees -sources
Thu, 06 Jun 2019 19:12:05 +0000
Citibank and Deutsche Bank have taken control of around $1.4 billion of Venezuelan government gold, which they received as guarantees for loans, as a result of U.S. sanctions on the Venezuelan Central Bank, according to five sources. Between 2014 and 2016 the central bank (BCV) used a portion of its foreign gold reserves to guarantee financial operations with banks to boost liquidity, with the intention of repaying the loans to avoid losing the gold. Five sources with knowledge of the deals said the BCV had agreed with Citibank and Deutsche Bank to buy back the gold in 2020 and 2021, but since the U.S. government imposed sanctions on the BCV in April the banks had invoked a condition of the contracts to retain ownership of the bars.
Also on Market Tamer…
Follow Us on Facebook