Citigroup is Down for the 4th Day in a Row

The Daily View for Citigroup

  • At the time of this writing, C’s price is down $-0.17 (-0.24%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Citigroup has now gone up 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Citigroup. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Citigroup’s hourly price chart is shown below.

C

The Daily View for Citigroup

  • At the moment, C’s price is down $-1.92 (-2.67%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Citigroup has now gone down 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Citigroup.

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Featured Citigroup Idea From TradingView

Below is a trading comment entitled Elliott Wave: a potential Wave 3 or Wave C in Tesla you may find interesting:

The price of Tesla ( NASDAQ:TSLA ) had been going down in a 5 waves manner, which was followed by a double zigzag correction,implying the next possible move will be another 5 waves declineThe only 2 possible patterns which can be formed in 5-3-5 are either an impulse (5-3-5-3-5) or a zigzag (5-3-…

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