IS CITIBANK A BUY?
Now that Citibank (C), after hitting a 52 wk low of $17.99 closed at $23.36 on April 11, is it a buy signal? Or one should wait to see if more bad news is unfolded?
Answers
541 points
NYInvestor answered one year ago …
I'm personally waiting. There are still a couple of million more homes that will get foreclosed on over the next few years. On top of that this company still isn't operating on any sort of efficient level.
If I were going to look at any financial services companies for the short term I'd look at American Express and JP Morgan.
1. Great brand
2. Companies are operating with a high degree of efficiency (even during the predicament we're in now)
3. They stand the best chance of coming back the strongest and the quickest when this economy takes a turn for the better.
Anyone else have any thoughts on this?
307 points
ShoeMan answered one year ago …
long term wise, i think so. dividends are good too.
Read more from ShoeMan flag as abuse great answer
3943 points
MNSL answered one year ago …
Citi Bank is a Global Bank and has global name. I think once they go through this difficult period it will shine again in the long run.
I think if we can buy this stock in a big sell off, we can make short term and medium term profits. Currently some investors are applying short term investment strategy on this stock.
260 points
Hillcat88 answered one year ago …
The answer to your question lies very much upon the board direction of the market. Whether you believe that we are now still in a bear market rally or we have already bottomed out.
If the bear camp is right we are expecting a reversal of the market once we shall touch the region between 1400-1420 of the S&P 500 the resistance down trend line,, and would break the support line at 1270. Initial target seems to be at 1180. No doubt Citigroup would follow the market and go down lower.
If you believe that we have already bottomed in March, then of course its good time to buy for intermediate term and long term investment, not just C but also a lot of other good stocks.
