The Hourly View for C
Last Updated September 14, 2020, 23:7 GMT
Currently, C’s price is up $0.77 (1.5%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as C has now gone down 4 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Citigroup Inc Daily Price Recap
The choppiness in the recent daily price action of Citigroup Inc continues; to start today, it came in at a price of 51 US dollars, up 0.1% ($0.05) since the day prior. The change in price came along side change in volume that was down 5.65% from previous day, but up 24.36% from the Sunday of last week. Here is a daily price chart of Citigroup Inc.
Citigroup Inc Technical Analysis
The first thing we should note is that Citigroup Inc is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Volatility for Citigroup Inc has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 6 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
Overheard Around the Web
Over on StockTwits, here’s an example of what they’re saying about C:
$C when Covid hit I closed all positions in banks. Didn’t do it right away but it proved to be the safeguard to my portfolio. Reinvested the majority of those $’s in $LOW and $HD. Worked out well. GL… really avoid banks. Find the winners in Covid and not the beaten down losers. They are there for a reason. GLTA