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Advanced TA SearchArchive
- 6/7/2024 -
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Citigroup Inc. (C) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Citigroup Inc. (C). During the week, the C gave back -0.53 points, or -0.85%, and closed at 61.78 on Friday, June 7, 2024. Weekly volume was -42% below average.
C is a member of Financials Sector. Financials is the second 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 January 14, 2020 at 83.11 and reached 32.00 on March 18, 2020. C lost 51.11 points, or 61.50%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 39.21 and resistance is at 74.14. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See C medium-term trend chart]
A medium-term downtrend had started on May 22, 2024 at 64.98 and reached 60.76 on June 4, 2024. C lost 4.22 points, or 6.49%, in 1 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See C weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 June 4, 2024 at 60.76 and reached 62.58 on June 7, 2024. C gained -1.82 points, or -3.00%, in 3 days. The price is now at the 43.96% retracement level.
 Daily Technical Indicators: [See C daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since May 22, 2024.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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