After Yesterday's Rally of 1.31% Shares Could Potentially Pullback
Citigroup (NYSE:C) traded in a range yesterday that spanned from a low of $42.31 to a high of $42.75. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $42.27 on volume of 10.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Citigroup share prices have moved between a 52-week high of $60.95 and a 52-week low of $34.52 and are now trading 23% above that low price at $42.48 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.6%.
SmarTrend recommended that its subscribers protect gains by selling shares of Citigroup on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $44.07. Since that call, shares of Citigroup have fallen 4.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders Citigroup