Citigroup Closed Yesterday Down -0.04%

The Daily View for Citigroup

  • Currently, C’s price is up $0.02 (0.03%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Citigroup has now gone down 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Citigroup. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Citigroup’s hourly price chart is shown below.

C

The Daily View for Citigroup

  • At the moment, C’s price is down $-0.03 (-0.04%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Citigroup.

C

Featured Citigroup Idea From TradingView

Below is a trading comment entitled BITCOIN – Wave 2 In Progress – It’s A Long Road Ahead… you may find interesting:

The bigger they are, the harder they fall… This is in relation to expanding corrections.In my previous chart of the Dow Jones I outlined how expanding triangles help a market coil up for the next big move.In the case of Bitcoin it is very obvious what this means.For starters if you count the waves up since 2009, Wave 1 ended in 2017 which is similar to the Dow Jones.Believe it or not these markets do trend together in similar ways, but not exactly the same.Another thing to note is that corrections tend to correct to the area just below previous fourth wave, but not always immediately.In the case of the Dow Jones this still hasn’t happened, the same with Bitcoin .That doesn’t mean that impulsive waves within the first major impulsive wave need to do this, I am talking about the correction…

AriasWave