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- 3/15/2024 -
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Citigroup Inc. (C) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :MACD bearish divergenceThe price has fallen below the Parabolic SARTrend support at 57.51
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It was a second consecutive positive week for the Citigroup Inc. (C). During the week, the C climbed 0.10 points, or 0.17%, and closed at 57.61 on Friday, March 15, 2024. Weekly volume was -19% below average.

C is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See C long-term trend chart]
A long-term downtrend had started on June 2, 2021 at 80.29 and reached 38.17 on October 27, 2023. C lost 42.12 points, or 52.46%, in 125 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (37.50) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See C medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 38.17 and reached 58.67 on March 14, 2024. C gained -20.50 points, or -53.71%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 56.40 and resistance is at 63.46. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See C weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See C short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 52.24 and reached 58.67 on March 14, 2024. C gained -6.43 points, or -12.31%, in 30 days. The chart has formed a Rising Channel chart pattern. The price is near the trend support (57.51) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

Daily Technical Indicators: [See C daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence.

The daily MACD line is above its signal line since March 5, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.34
Williams' Percentage Range (W%R) 51.50
Lane's Stochastic (%D-Slow) 69.36
Greed/Fear Indicator (GFI) 62.73
Moving Average Converg./Diverg. (MACD) 0.87 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.09
Bearish
Williams' Percentage Range (W%R) 10.80
Overbought
Lane's Stochastic (%D-Slow) 74.77
Bearish
Greed/Fear Indicator (GFI) 75.47
Moving Average Converg./Diverg. (MACD) 2.44 Bearish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 63.46
Weekly Trendline Resistance 59.57
Parabolic System 58.41
Upper Bollinger Band 58.35
Daily Stochastic Crossing 57.82
Price 57.61
Weekly Trendline Support 57.51
Weekly Stochastic Crossing 56.92
Monthly Trendline Support 56.40
20 Day Moving Average 56.34
50 Day Moving Average 54.79
Lower Bollinger Band 54.40
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Diversified Banks 88
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 56.63
Low Date 03/11/2024
High 58.67
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 59.57
Support 57.51
Low 52.24
Low Date 02/13/2024
High 58.67
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 63.46
Support 56.40
Low 38.17
Low Date 10/27/2023
High 58.67
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 35.23
Support 37.50
High 80.29
High Date 06/02/2021
Low 38.17
Low Date 10/27/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 83.11
High Date 01/14/2020
Low 32.00
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.