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Bearish Moving Average Cross by Citigroup (C)

By Nick Russo

Citigroup (NYSE:C) crossed under its 10-day moving average of $46.52 on a volume of 4.5 million shares. Swing traders may find 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 $60.95 and are now at $46.29, 34% above that low price. The 200-day and 50-day moving averages have moved 0.32% lower and 1.75% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Citigroup on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.20. Since that recommendation, shares of Citigroup have risen 16.3%. 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