This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Big Stocks to Trade for Gains

Stocks in this article: CTFMSFTMGM

Citigroup

It's only fitting to start off our review of big-name technicals by looking at the stock that's historically been the highest-volume stock on the entire NYSE by a significant margin -- I'm talking about Citigroup (C).

I say "historically" because Citigroup's 1-for-10 reverse split this week took the stock's price from the mid-single digits to the mid-doubles. That sort of shift always has a material effect on trading volume numbers, something that analysts will need to keep an eye on as they crunch volume-driven metrics in the coming days and weeks.

For all intents and purposes, stock splits don't have a fundamental impact on a company; that is to say that Citi hasn't changed by modifying the number of "pieces of the pie." That said, splits can have a technical and psychological impact on a stock given that they impact things like liquidity, investors' views of "cheap" or "expensive," and access to the stock by institutions that operate under strict mandates on share price and trading volume.

Right now, Citigroup is consolidating, a state that the big bank has been in since the beginning of March. That sort of consolidation occurs when a stock's buyers and sellers are trying to compete for domination of its share price - with well-defined support and resistance, traders should be on the lookout for breaches of either level. That's a trading opportunity away from the consolidation area.

At the same time, investors should be looking for bounces off of support to pick up additional shares of Citi.

Citigroup shows up on a recent list of 10 Stocks Under $10 With Upside as well as 6 Financial Stocks to Sell.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,390.52 +195.10 1.13%
S&P 500 2,018.05 -2.75 -0.14%
NASDAQ 4,630.7410 +64.6030 1.41%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs