• Return to Headlines

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

By Nick Russo

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. Yesterday's price range of $65.64 and $65.64 is within the prior day'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.

There is potential upside of 28.5% for shares of Citigroup Inc based on a current price of $65.63 and an average consensus analyst price target of $84.33. Citigroup Inc shares should encounter resistance at the 200-day moving average (MA) of $65.72 and support at the 50-day MA of $62.62.

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 share prices have moved between a 52-week high of $75.24 and a 52-week low of $48.42 and closed yesterday at 36% above that low price at $65.63 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Citigroup Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Citigroup Inc in search of a potential trend change.

Keywords: bearish am inside day candle citigroup inc

Ticker(s): C