• Return to Headlines

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

By David Diaz

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 $65.95 and $66.24 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.

In the past 52 weeks, Citigroup Inc share prices have been bracketed by a low of $63.16 and a high of $80.70 and are now at $66.19, 5% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

Potential upside of 27.4% exists for Citigroup Inc, based on a current level of $66.19 and analysts' average consensus price target of $84.33. The stock should find initial resistance at its 50-day moving average (MA) of $69.23 and further resistance at its 200-day MA of $72.56.

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.

SmarTrend recommended that its subscribers protect gains by selling shares of Citigroup Inc on May 24th, 2018 by issuing a Downtrend alert when the shares were trading at $69.19. Since that call, shares of Citigroup Inc have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle citigroup inc

Ticker(s): C