Top Trade Ideas for the Week of February 11, 2013: Bonus Idea
- Posted by Greg Harmon
- on February 11th, 2013
Here is your Bonus Idea with links to the full Top Ten:
Citigroup, Ticker: $C
Citigroup, $C, has been consolidating in a tightening range since the move higher out of the bull flag in December and over resistance at 38.70. A move over the top at 43.40 carries a target on a Measured Move to 46.25 and then 52. The Relative Strength Index (RSI) is bullish and holding over the mid line but the Moving Average Convergence Divergence indicator (MACD) continues to pullback but has a shallowing angle to it. Support below is found at 41 and 39.60 followed by 38.70 and 37.50.
Trade Idea 1: Buy the stock on a move over 43.40 with a 75 cent trailing stop.
Trade Idea 2: Buy the February22 44 Calls (offered at 22 cents late Friday) on a move over 43.40.
Trade Idea 3: Buy the March15 44 Calls (73 cent) on a move over 43.40.
Trade Idea 4: Buy the February22/March15 45 Call Calendar (36 cents) on a move over 43.40.
Trade Idea 5: Buy the February22/March15 45 Call Calendar selling the March 38 Put (18 cents) on a move over 43.40.
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After reviewing over 1,000 charts, I have found some good setups for the week. This week’s list contains the first five below to get you started early.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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