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Bearish Moving Average Cross by Citigroup (C)

By Amy Schwartz

Today, shares of Citigroup (NYSE:C) have crossed bearishly below their 10-day moving average of $48.40 on a volume of 6.2 million shares. This may provide short-term investors a chance 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 $47.73, 38% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Citigroup on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.45. Since that recommendation, shares of Citigroup have risen 9.6%. 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