Citigroup (C) Closes Prior Hour Up 0.59%; in a Downtrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for C

Last Updated September 17, 2020, 23:11 GMT

At the time of this writing, C’s price is down $-0.47 (-1.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 45.53 US dollars, down 1.06% ($0.49) since yesterday. The change in price came along side change in volume that was down 37.22% from previous day, but up 1.62% from the Wednesday of last week. Below is a daily price chart of Citigroup Inc.

C

Citigroup Inc Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Citigroup Inc’s price has gone up 7 of the previous 14 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

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

    $XLF $KRE $JPM $BAC $C The main reason for the Stress test now is that the Federal Reserve is, drum roll please, bored. Markets are humming along very well and they don't have anything constructive to do as they already set the rates at 0 for the next 3 years.

    So, what do they do in the mean time? Let's poke around the banks and see whether there are issues… Funny thing is that we were at 20% unemployment just few months ago and nothing happened to the banks as they all hoarded heavy reserves for the potential losses and now they are testing for 12.5% unemployment? Are thy for kidding me?!?

    SImply put, it is a joke and the financials will be up nicely going forward, IMHO!

    RainGater