Citigroup Does it Again: Heads Down for the 3rd Straight Day

The Hourly View for Citigroup

  • Currently, C’s price is up $0.08 (0.11%) from the hour prior.
  • The hourly chart shows that Citigroup has seen 2 straight up hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Of note is that the 20 and 50 hour changed directions on C; they are now pointing up. The moving averages on the hourly 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 $-0.05 (-0.07%) from the day prior.
  • The daily chart shows that Citigroup has seen 3 straight down days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • 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.

Below is a daily price chart of Citigroup.

C

Featured Citigroup Idea From TradingView

Below is a trading comment entitled Elliot Waves Complete Guide | Chapter 4.6 – “ABC Fib Lengths” you may find interesting:

Hello Traders. Welcome to Chapter 4.6! This is FINAL CHAPTER of my Elliott Waves series that took me 6 months to create starting from chapter 1. Here we will finally conclude with learning about the “Fibonacci Ratio Lengths for Corrective Wave Multiples”. In the previous sub-chapter, we learned how to apply Fibonacci lengths for waves 1-5, now we will learn how to apply them to A-B-C corrections. This chapter is related to chapter 3.1 (corrective waves), so it would be best to re-visit or master that chapter first.📚 Chapter 4 Glossary: 4.1 Alternation4.2 Channeling4.3 Psychology4.4 Fib-Ratio4.5 Motive Wave Multiples📖 4.6 Corrective Wave Multiples —– Corrective Wave Multiples for an A-B-C Correction Overview”How to Calculate the wave lengths for waves ABC” 1) In a Zig-Zag correction (go back to chapter 3.1 if you don’t know what a zig-zag correction is), …

XForceGlobal