Since its 2007 high, Citigroup (NYSE:C) is much lower in price. But now the stock is trying to breakout from a bullish pattern.
During the past few months, Citi appears to have created another bullish ascending triangle, which more often than not, results in an upside breakout. As mentioned, Citi looks to have formed a bullish ascending triangle pattern at (1), where we applied a measured-move calculation.
This week, Citi is trying to break out of the top of the pattern at (2). The measured move suggests that Citi could reach $77, if it is able to break out.
Full disclosure: Premium and Sectors members have been long this stock for months and should the breakout take place, to continue holding this stock.