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Citigroup In A Descending Triangle

|Includes: Citigroup Inc. (C)

Financial stocks did not get the expected bounce the blogosphere was anticipating today, it looks like the bullish hammers that showed up everywhere on Friday are now negated as they did not see any follow through today.  Scanning the charts, I noticed C is showing itself inside a descending triangle implying further price declines.

Should the green trendline not hold, I'm looking for a price target somewhere around $2.50 a share.



Disclosure: no position