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Bearish Moving Average Cross by Citigroup (C)

By James Quinn

Citigroup (NYSE:C) crossed under its 10-day moving average of $61.20 on a volume of 6.0 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Citigroup share prices have been bracketed by a low of $34.52 and a high of $62.69 and are now at $60.10, 74% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.6%.

SmarTrend recommended that subscribers consider buying shares of Citigroup on February 14th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.43. Since that recommendation, shares of Citigroup have risen 3.7%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Citigroup

Ticker(s): C