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  • Hot Financial Stocks for Monday – Citigroup Inc., Bank of America corp., Banco Santander, Bank of Ireland

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    Sunday Nov. 28, 2010 at 12:39 pm EST
     
    Financials Stocks in Focus  
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    Shares of Citigroup Inc.(NYSE:C) are trading at $4.11 loosing 6 cents on Friday at support level of $4.12. The resistance levels above are $4.25 & $4.47. The support levels below are at $3.95, $3.83 and $3.7. Dow Jones on Thursday reported that Citigroup Inc. is planning to rebuild its European retail presence with a slim network of flagship outlets to underpin operations in key parts of Western Europe.

    Shares of Bank of America Corp. (NYSE:BAC) closed at $11.12 on Friday loosing 1.42%. The resistance levels above are $11.82, $12.46, $13.3 and $13.68. There are no major support levels for BAC below Friday's closing price. Financial stocks are expected to stay volatile on Monday on account of Irish Bailout.

    Shares of Banco Santander (NYSE:STD) dropped more than 5% on Friday on concerns that after Irish bailout, Spain might also need a bailout from the EU. Major resistance levels above are at $10.48, $11.2, $11.62 and $12.29. while the only strong support point below this level is at $8.93 which is more than 10% below Friday's close. STD shares might drop on Monday again.
    Shares of Bank of Ireland(NYSE:IRE) are at its 52-wk low due to bailout crisis in Ireland. IRE Shares closed at $1.44 loosing more than 8% on Friday. Future doesn't seems bright for Bank of Ireland with no support points below. Resistance levels above are at $2.23, $3.12, $3.46, $3.87 and $4.19. The Irish bailout news will give direction to the market on Monday. IRE is a high risk high reward bet currently.
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