Für alle die noch hoffen. Jim Cramer Confidently Predicts Citigroup Inc. (NYSE:C) Will Hit $12 Posted on Jul 02, 2010 in Uncategorized - Leave a comment
For his “Off The Charts” segment, Cramer went up against his colleague at TheStreet.com Tim Collins over the chart of Citigroup Inc. (NYSE:C).
Collins said Citigroup Inc.’s daily chart shows a rising wedge pattern where the stock is making higher lows, but the highs are staying the same. He noted that this bullish pattern is also confirmed by the Citigroup’s 14-day moving average crossing its 30-day average. Other bullish indicators include the relative strength index and the on balance volume indicators.
In regards to the weekly chart, Collins said that Citigroup is due for a bounce as the stock is picking up momentum. He thinks the stock can hit $4.60 or even $5 a share and would be buying it aggressively.
Cramer agreed, and reiterated his $12 price target for Citigroup. He told viewers that Citigroup is very well run, and the worst of its problems are now behind it. Cramer said Citigroup is seeing fewer and fewer charge-offs and delinquencies, and its book of business is getting stronger and stronger. |