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

By Nick Russo

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 $79.10 and $79.30 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.

In the past 52 weeks, shares of Citigroup Inc have traded between a low of $54.76 and a high of $80.42 and closed yesterday at $78.94, which is 44% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

Citigroup Inc has overhead space with shares priced $78.94, or 6.4% below the average consensus analyst price target of $84.33. Citigroup Inc shares have support at the 50-day moving average (MA) of $75.99 and additional support at the 200-day MA of $69.62.

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.

SmarTrend recommended that subscribers consider buying shares of Citigroup Inc on October 16th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $71.14. Since that recommendation, shares of Citigroup Inc have risen 11.7%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle citigroup inc

Ticker(s): C