Citigroup Inc. (NYSE:C) and Satyam Computer Services Limited (NYSE:SAY)
HOW R U?
WHAT U THINK ON CITI (C)?
SAY ANY INFO?
We covered SAY not that long ago and our thesis hasn’t changed. It is getting closer to that $5 level which is good as it makes its way toward resistance. Check the blog post here: http://blog.mysmartrend.com/blog/?p=261
As for C, yesterday's action was disturbing. Market was up 100 points and yet stock was down more than 7%. Perhaps financial investors are rotating into healthier banks with less balance sheet issues and more freedom from government involvement. From SmarTrend perspective, we have not yet changed our trend rating since the Uptrend was issued on 3/16 @ $2.30. But for some reason C has failed to climb above the 50-day moving average and now our NBDV and IBDV indicators are declining. Our proprietary DR ratio is also showing some signs of negative movement. It may try to test $2.50-$2.60 level so aggressive traders may try and play for a bounce as a trade only but huge down slope MAs indicate some serious negative pressure.
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