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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Citigroup Inc (NYSE:C) based on the price action in the company's shares. Yesterday's price range of $77.62 and $78.08 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. Traders and investors interested in shares of Citigroup Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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 $78.21, or 7.3% below the average consensus analyst price target of $84.33. The stock should find resistance at its 50-day moving average (MA) of $78.46, as well as support at its 200-day MA of $71.35.

In the past 52 weeks, Citigroup Inc share prices have been bracketed by a low of $60.05 and a high of $83.11 and closed yesterday at $78.21, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

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: bullish am inside day candle citigroup inc

Ticker(s): C