Citigroup Inc (C) 4 Day Down Streak Ended, Breaks Above 20 Day Average; Bullish Engulfing Pattern in Play

Citigroup Inc Daily Price Recap

Citigroup Inc is up 12.17% ($4.93) since yesterday, marking a reversal from the day prior — and the end of a 4 day negative run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 11.94% from the day prior, and up 19.87% from the same day the week before. Here is a daily price chart of Citigroup Inc.

Citigroup Inc Technical Analysis

Notably, Citigroup Inc crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Citigroup Inc’s price has gone up 5 of the previous 10 trading days. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 90 day time periods.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about C:

    $JPM $BAC $WFC $GS $C
    Back in 2008, banks were part of the problem.

    Now, though, banks are part of the solution. They have strong, asset heavy and highly liquid balance sheets, with mitigated risk. They’ve been prepping for a crisis like this over the past decade through multiple stress tests. And, this time around, banks will be helping the government in saving other sectors of the economy.