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Adventures In Technical Analysis Citigroup Edition

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by Felix Salmon
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Oct 17 2007 12:00am EDT

Adventures in Technical Analysis, Citigroup Edition

David Gaffen notes today that Citigroup shares are now trading at a 2-year low of $43.97 per share. He then quotes this wonderful piece of advice from technical analyst Joseph Hargett:

The $45 level “has not been breached on a weekly closing basis since October 2005, and could be seen as a buy/sell indicator for anyone considering investing in C,” notes Joseph Hargett, analyst at Schaeffer’s Investment Research.

So there you go. If you want to buy Citigroup, this could be a good time to do so. Or, on the other hand, it could be a good time to sell. Does anybody have a coin I can flip?

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