Citigroup (C) Closes Prior Hour Up 0.37%; Crosses 50 Day Moving Average, Price Base in Formation Over Past 30 Days

The Hourly View for C

Last Updated September 11, 2020, 15:15 GMT

At the moment, C’s price is up $0.15 (0.28%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as C has now gone up 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. Regarding moving averages, it should first be noted that price has crossed the 100 and 20 hour moving averages, resulting in them with price now being above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Citigroup Inc Daily Price Recap

Citigroup Inc entered today at $50.95, down 0.88% ($0.45) from the previous day. As for how volume fared, yesterday’s volume was up 16.09% from the previous day (Wednesday), and up 36.97% from Thursday of the week before. Here is a daily price chart of Citigroup Inc.

C

Citigroup Inc Technical Analysis

Notably, Citigroup Inc crossed below its 50 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 up 8 of the previous 14 trading days.

Overheard Around the Web

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

    $C Citi Retail Services & $W announced a long-term partnership to provide a new private label Wayfair Credit Card and co-brand Wayfair $MA with compelling rewards and benefits for Wayfair customers.

    The Wayfair Credit Card & Wayfair Mastercard will offer 5% back in rewards or financing up to 60 months on eligible Wayfair purchases. In addition, Wayfair Mastercard cardmembers will earn:
    — 3% back in rewards at qualifying grocery stores
    — 2% back in rewards for qualifying online purchases
    — 1% back in rewards on all other qualifying purchases

    The cards have no annual fee and rewards do not expire. Customers will also receive $40 off their first qualifying Wayfair purchase of $250 or more.

    Ro_Patel