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Citigroup (C) Crosses Pivot Point Resistance at $49.02

By Amy Schwartz

Shares of Citigroup (NYSE:C) opened today above their pivot of $48.72 and have already reached the first level of resistance at $49.02. Investors may be interested in a cross of the next upside pivot targets of $49.45 and $50.18.

There is potential upside of 30.1% for shares of Citigroup based on a current price of $49.04 and an average consensus analyst price target of $63.79. Citigroup shares have support at the 200-day moving average (MA) of $48.84 and additional support at the 50-day MA of $43.20.

In the past 52 weeks, Citigroup share prices have been bracketed by a low of $34.52 and a high of $60.95 and are now at $49.04, 42% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 1.23% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Citigroup on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.45. Since that recommendation, shares of Citigroup have risen 9.3%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Citigroup

Ticker(s): C