Citigroup's most recent trend suggests a bearish bias. One trading opportunity on Citigroup is a Bear Call Spread using a strike $67.50 short call and a strike $72.50 long call offers a potential 6.38% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $67.50 by expiration. The full premium credit of $0.30 would be kept by the premium seller. The risk of $4.70 would be incurred if the stock rose above the $72.50 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Citigroup is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Citigroup is bearish.
The RSI indicator is at 36.3 level which suggests that the stock is neither overbought nor oversold at this time.
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LATEST NEWS for Citigroup
JC Flowers to sell $700 mln worth of shares in Shinsei Bank
Thu, 08 Aug 2019 07:07:49 +0000
Private equity investor JC Flowers & Co will cut its stake in Japan's Shinsei Bank to less than 4%, according to a filing by the lender, selling shares worth around $700 million nearly two decades after one of Japan's first buyout deals. The share sale will see the fund's founder, J. Christopher Flowers, also sell down his personal stake in the lender, and exit the bank's board, according to the filing. Flowers and other investors will sell as many as 45.6 million shares, including an over-allotment, to domestic and overseas investors.
Goldman Sees Gold Prices Climbing to $1,600
Wed, 07 Aug 2019 23:00:00 +0000
(Bloomberg) — For Goldman Sachs Group Inc. analysts, gold’s rally above $1,500 is just the beginning.Analysts at the bank predict that prices already at six-year highs will climb to $1,600 an ounce over the next six months as investors seek havens. The dimming global economic outlook, fueled by heightening trade tensions between the U.S. and China are boosting gold’s appeal as a hedge against financial turmoil.“If growth worries persist, possibly due to a trade war escalation, gold could go even higher, driven by a larger ETF gold allocation from portfolio managers who still continue to under-own gold,” Goldman analysts including Sabine Schels said in a note Wednesday. “Gold ETFs have recently built momentum almost as strong as in 2016, and we believe that can be maintained in the short-term.”Bullion holdings in ETFs climbed to the highest since April 2013 amid a financial market meltdown that saw more than $700 billion wiped from the value of U.S. equities on Monday. The argument for owning gold as protection to one’s wealth got louder after the market value of the Bloomberg Barclays Global Negative Yielding Debt Index closed at a record $15 trillion at the start of the week.Industrial production in Germany posted its biggest annual decline in almost a decade, adding to fears that the world economy could be moving closer to its first recession in a decade. In the Asia-Pacific region, central banks in New Zealand, India and Thailand made surprise interest-rate cuts as they sought to shield their economies from global headwinds. The moves came just a week after the Federal Reserve lowered U.S. borrowing costs for the first time in more than a decade.Last week, Bank of America Merrill Lynch analyst Michael Widmer said the metal could climb toward $2,000 in the next two years, as “the recent dovish tilt by central banks, accompanied by increases of negative yielding assets” provide a good backdrop that could sustain the rally. The metal reached a record $1,921.17 in the spot market in 2011.“We believe that there are further cuts coming,” Widmer said Wednesday in a Bloomberg TV interview. “Talk about easing in other parts of the world as well, that drowns out everything else on the dollar, for instance.” Increased volatility could see gold prices spike above the bank’s base case forecast of $1,500, fueling the rally.The precious metal climbed as much as 2.4% in the spot market on Wednesday to $1,510.46 an ounce, the highest since April 2013. On the Comex in New York, futures touched $1,522.70, before settling at $1,519.60 at 1:30 p.m.Goldman said Wednesday it raised its 2019 outlook for ETF demand to 600 metric tons this year, from 300 tons, and boosted its six-month price forecast after the metal surpassed the bank’s previous target of $1,475.UBS Group AG and Citigroup Inc. are also bullish on gold, forecasting prices could rise to as high as $1,600.\–With assistance from Scarlet Fu.To contact the reporters on this story: Luzi Ann Javier in New York at firstname.lastname@example.org;Justina Vasquez in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
5 Big Bank Stocks to Sell as Central Banks Cut Rates
Wed, 07 Aug 2019 19:20:02 +0000
Global equities are reeling again on Wednesday as not one but three central banks (New Zealand, Thailand and India) cut interest rates as policymakers around the world struggle to get in front of weakening economic fundamentals and what looks like a burgeoning currency war between the major powers in Asia, Europe, and the United States.It's a race to the bottom, as competitive devaluations become the norm in the wake of worsening trade tensions between the U.S. and China. Beijing fired the latest salvo this week, with an aggressive cut to the valuation of the yuan in response to President Trump's threat to slap a 10% tariff on all remaining untariffed Chinese imports — which would include things like new Apple (NASDAQ:AAPL) iPhones.Lower interest rates, at at time when negative interest rates are becoming more common around the world, will only further pressure bank earnings as the difference between long-term interest rates (which are falling fast) and short-term interest rates declines.InvestorPlace – Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Buy on the Trade War Dip Here are five major bank stocks to sell now: Bank of America (BAC)The first of our bank stocks, Bank of America (NYSE:BAC) is falling further below its 200-day moving average, testing the critical lows set in March and again in May. A violation of those levels would set the stage for a decline back to the December lows, which would be worth a loss of roughly 17% from here.The company will next report results on October 16 before the bell. Analysts are looking for earnings of 68 cents per share on revenues of $22.9 billion. When the company last reported on July 17, earnings of 74 cents per share beat estimates by three cents on a 2.7% rise in revenues. Citigroup (C)Citigroup (NYSE:C) shares are testing their 200-day moving average, threatening a return to their March lows which would be worth a loss of around 8% from here. This caps a sideways consolidation range going back to late 2017. This comes after analysts at Keefe Bruyette upgraded the stock in anticipation of an "extended" economic cycle. Bad timing on that one. * 10 Cyclical Stocks to Buy (or Sell) Now The company will next report results on October 15 before the bell. Analysts are looking for earnings of $1.96 per share on revenues of $18.5 billion. When it last reported on July 15 earnings of $1.95 beat estimates by 15 cents on a 1.6% rise in revenues. JPMorgan (JPM)JPMorgan (NYSE:JPM) shares are testing their 200-day moving average, threatening to break below their late May lows and return to levels last tested in March. The drop would be worth a loss of roughly 8% from here. This caps a sideways consolidation range going back to early 2018. JPM is among five banks that will face a lawsuit (Editor's Note: paywall) in Europe accusing them of manipulating foreign exchange markets.The company will next report results on October 15 before the bell. Analysts are looking for earnings of $2.44 per share on revenues of $28.1 billion. When the company last reported on July 16, earnings of $2.82 beat estimates by 33 cents per share on a 3.9% jump in revenues. Wells Fargo (WFC)Wells Fargo (NYSE:WFC) shares are testing lows near the $45-a-share threshold, continuing to struggle below its 200-day moving average and threatening a return to its late December low. This caps a two-year long downtrend pattern going back to early 2018 as shares are mired near levels seen throughout 2016. Shares were recently downgraded by analysts at Macquarie. * 3 Steps Every Investor Should Take Before the Next Stock Market Crash The bank stock will next report results on October 15 before the bell. Analysts are looking for earnings of $1.17 per share on revenues of $20.7 billion. When WFC last reported on July 16, earnings of $1.30 beat estimates by 14 cents on a 0.1% rise in revenues. Morgan Stanley (MS)Shares of Morgan Stanley (NYSE:MS) are collapsing down the right side of what looks like a multi-month head-and-shoulders reversal pattern, setting up a decline back to the December lows and beyond. Such a move would, at the least, be worth a 10% decline from here. This, in turn, make the right shoulder of an even larger head-and-shoulders reversal pattern that traces back to 2016 and could set the stage for a 50%+ decline.The company will next report results on October 15 before the bell. Analysts are looking for earnings of $1.22 per share on revenues of $9.9 billion. When the company last reported on July 18, earnings of $1.23 beat estimates by seven cents on a 3.4% decline in revenues.As of this writing, the author held no positions in the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy on the Trade War Dip * The 5 Highest-Rated Dow Stocks Right Now * 4 Cybersecurity Stocks to Buy for Long-Term Gains The post 5 Big Bank Stocks to Sell as Central Banks Cut Rates appeared first on InvestorPlace.
Jim Cramer Weighs In On Funko, Citigroup And More
Wed, 07 Aug 2019 15:17:40 +0000
On CNBC's “Mad Money Lightning Round,” Jim Cramer said eBay Inc (NASDAQ: EBAY ) is going to have a great quarter. He believes it's going to be able to sell StubHub at a much bigger price than …
HSBC to Resolve Belgium Money Laundering Lawsuit for $336M
Wed, 07 Aug 2019 13:27:01 +0000
HSBC Holdings' (HSBC) agreement to settle Belgium money laundering and tax fraud lawsuit is a step in the right direction.
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