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Citigroup Inc Falls 2.17% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Citigroup Inc (NYSE:C) traded in a range yesterday that spanned from a low of $69.91 to a high of $70.90. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $71.89 on volume of 9.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Citigroup Inc has traded in a range of $64.38 to $80.70 and is now at $70.54, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Citigroup Inc on July 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.34. Since that recommendation, shares of Citigroup Inc have risen 3.8%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders citigroup inc

Ticker(s): C