Citigroup Inc (NYSE:C) has a classic head and shoulder pattern showing up on the daily. Remember, head and shoulder patterns are bearish in nature and foretell downside action.
Citigroup will break the neckline at $44.50. The calculated target fall takes the stock from down to $38.00, a 15% drop. Note the chart below. This also tells us that the financial sector may be in trouble in the next few weeks.