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Watch for Citigroup Inc to Potentially Rebound After Falling 2.17% Yesterday

By Nick Russo

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.

In the past 52 weeks, Citigroup Inc share prices have been bracketed by a low of $64.38 and a high of $80.70 and are now at $70.54, 10% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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