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Berger: Citigroup wins US banking stocks race

Serge Berger is looking at buying Citigroup stock. Last week the US banking and broker sector had a great run and Citigroup rallied close to 4% on the week, with the shares reaching fresh year-to-date highs.

Serge explains that last week’s rally was a technically sound move because the stock essentially broke out of an almost 18 month consolidation phase and broke past its 2009 reaction highs.

Given the construct of last week’s rally, it looks likely to Serge that this structure could continue the bid into the end of the year.

Buy: 55.50 USD or higher

Target: 60 USD

Stop: 54 USD

01:19 minutes
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