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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. Today's price range of $69.69 and $69.77 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 (NYSE:C) has potential upside of 21.0% based on a current price of $69.69 and analysts' consensus price target of $84.33. The stock should find initial support at its 200-day moving average (MA) of $65.47 and further support at its 50-day MA of $64.05.

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.

Over the past year, Citigroup Inc has traded in a range of $48.42 to $75.24 and is now at $69.69, 44% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Citigroup Inc and will alert subscribers who have C in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle citigroup inc

Ticker(s): C