Citigroup Inc (C) Up 1.98%, Crosses 20 Day Moving Average; Doji and Pin Bar Patterns Appearing on Chart

Citigroup Inc 4 Hour Price Update

Updated September 08, 2020 04:29 PM GMT (12:29 PM EST)

C traders saw its share price fall -3.32% ($-1.75) over the past four hours of trading. For context, Citigroup Inc’s peers in the in the Banking industry are down -3.15% on average in this time, while the broader Financial Services sector is down by an average of -2.64%.

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 52.52 US dollars, up 1.98% ($1.02) since yesterday. As for how volume fared, yesterday’s volume was up 0.53% from the previous day (Sunday), and up 72.82% from Monday of the week before. Let’s take a look at the daily price chart of Citigroup Inc.

C

Citigroup Inc Technical Analysis

First things first: Citigroup Inc crossed above its 20 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. 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. Or to view things another way, note that out of the past 30 days Citigroup Inc’s price has gone down 16 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

Overheard Around the Web

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

    $CIT $BAC $WFC $C So … Why are we seeing financials in red ? I mean: tech went up … Financials were lagging … Tech is failing … Financials are failing … I can agree with a counter movement that if Technology lags, other sectors will do better. But in this case … No matter what happens, financial market seems to lag. Too bad, missed opportunities (and expectations). Just 12 to 20 percent on top of the current price would be more in line with expectations. Have the feeling that the entire financial sector is lagging far behind. Will an upward correction finally surface this week for the financials?

    Doctor_Apple