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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 $70.82 and $71.46 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 share prices have moved between a 52-week high of $73.08 and a 52-week low of $48.42 and are now trading 46% above that low price at $70.93 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

Citigroup Inc (NYSE:C) has potential upside of 18.9% based on a current price of $70.93 and analysts' consensus price target of $84.33. Citigroup Inc shares have support at the 50-day moving average (MA) of $66.65 and additional support at the 200-day MA of $65.80.

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 inside day candle citigroup inc

Ticker(s): C