Scanning stock charts within the financial sector, I found a reversal trading setup on Citigroup (C).
A price reversal higher has triggered an ellipse buy signal.
Citigroup’s stock price is reversing higher off of the 50 day moving average. This provides a good risk-reward, with a stop being placed at $58.50.
If looking to further control risk, one could hedge with the Financials Sector ETF (XLF).
Citigroup Stock Chart
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.