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Possible Bearish Inside Day Candle Pattern Detected for Citigroup Inc (NYSE:C)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Citigroup Inc (NYSE:C) based on the price action in the company's shares. Today's price range of $64.45 and $64.45 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Citigroup Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers. The Company services include investment banking, retail brokerage, corporate banking, and cash management products and services. Citigroup serves customers globally.

Citigroup Inc has overhead space with shares priced $64.45, or 23.6% below the average consensus analyst price target of $84.33. The stock should hit resistance at its 200-day moving average (MA) of $66.34, as well as support at its 50-day MA of $58.68.

Citigroup Inc share prices have moved between a 52-week high of $78.42 and a 52-week low of $48.42 and are now trading 33% above that low price at $64.45 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Citigroup Inc on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.52. Since that recommendation, shares of Citigroup Inc have risen 18.1%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle citigroup inc

Ticker(s): C