Citigroup Inc (C) Makes Big Move Relative to Two Week Trend, Down 0.87%; Crosses 20 Day Moving Average

Citigroup Inc Daily Price Recap

The back and forth price flow continues for Citigroup Inc, which started today off at 51.5 US dollars, down 0.87% ($0.45) from the previous day. As for how volume fared, yesterday’s volume was up 63.24% from the previous day (Wednesday), and up 44.88% from Thursday of the week before. Let’s take a look at the daily price chart of Citigroup Inc.

C

Citigroup Inc Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Citigroup Inc crossed below its 20 day moving average yesterday. 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 another vantage point, consider that Citigroup Inc’s price has gone down 17 of the previous 30 trading days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to C:

    $WFC Everyone should try to ignore the naysayers citing non-recent news. I do not understand their motivation in regularly repeating the same stuff over and over again by the same few people. Alternatively, just consider them noisy neighbors, don't engage them (although this = engaging them).

    ALL the bad headlines were well before the March pandemic except the mortgage forbearances and WFC stock was $50+. The forbearance error or mishap was fixed by all major banks back in March/April. This was fixed immediately when the news broke and I genuinely believe it was a misunderstanding of the Cares Act requirements and implementation considering the speed it was fixed.

    $WFC has a very strong, solid, stable future ahead. The only real debate is how long until investors will be rewarded. The other banks will also do well of course, but they aren't harassed as much over very old problems.

    Relevant to $BAC $C $JPM for example.

    Kajuun