Buy Recommended on Citigroup Shares – Signals Positive For The Financial Sector

Citigroup Inc. is scheduled to publish its second quarter earnings report on Friday (14/7), before the market open. The bank is forecast to report Q2 EPS of $1.10 on $17.47 billion in revenue. In the same period last year, it had reported earnings of $1.51 per share on $19.16 billion in revenue. After strong second-quarter results from JPMorgan Chase early on Thursday, the general market mood has been positive, with increased faith in the U.S. financial sector, including Citigroup Inc.  As a result, the bank’s stocks opened with a big gap up. On the hourly chart, the price is moving in a range between 44.18 and 44.67 after a 0.8% rally to $44.60. The parabolic SAR is below the price movement, signaling a bullish market. There has been no reversal or pull back yet. The stock is anticipated to tick up further.

Trade suggestion

 Buy stop at 44.34, Take profit at 44.67, Stop loss at 44.20

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