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Citigroup is looking poised for a breakout

|Includes: Citigroup Inc. (C)

I don’t own any Citigroup yet in my portfolio, but I think I’m about to. The short term chart looks really great on the daily candlesticks, but I see even more to like on the point and figure chart. Further, the financial sector is solidly “on offense” with a rising bullish percentage.

The attached chart shows my highlights. This would currently be more of a value play rather than pure technical, as the breakout alluded to hasn’t yet occurred. It’s important to be very careful anticipating what is not yet reality: YES, it’s likely that momentum from recent action in a market currently ruled by demand will cause this breakout. But until then, it’s still stuck against resistance at $5.

On a more fundamental perspective, C is a S&P Four Star stock, and has consistently reported profitability for the last three consecutive quarters. This is a nice break from the woes of 2008/2009.

I find this stock compelling on all fronts, and I plan to add to my portfolio this week!