Citigroup Update | Investing.com


Citigroup Daily Chart.

Citigroup Inc (NYSE:) has had a nice run this month. At this morning’s peak, the stock was up over 25% from the October close. Today, Citigroup received an upgrade from KBW. In addition to KBW’s bullish comments we believe last week’s key trendline break will carry shares higher in the near term. Citigroup is heading for its first weekly close above its 200-day moving average since Feb. 21. The key hurdle will be the $54.00 area (September highs). Support is in place from the $50.00 to $48.00 area.

On the downside, a close back below $46.00 would violate last week’s low, indicating more basing is ahead.

Note: We are long Citigroup in some managed accounts.

You can read Gary S. Morrow’s original post here.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here