Citigroup is Down for the 5th Day in a Row

The Daily View for Citigroup

  • At the moment, C’s price is up $0.3 (0.43%) from the day prior.
  • The daily chart shows that Citigroup has seen 2 straight down days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend 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 $-0.04 (-0.06%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Citigroup has now gone down 5 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists 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.

C

Featured Citigroup Idea From TradingView

Below is a trading comment entitled Gartley? you may find interesting:

BA appears to be trading in a gartley pattern. Harmonic patterns have precise fib levels built in, and this may or not be a Gartley, I just hope it is not the crab. Gartley pattern is very common in the markets. I would be sure there is evidence of a turn at the .786 fib level, or that it turns up tomorrow after the pull back today. Remains to be seen. The Gartley is a bullish pattern but is bearish until the last leg (CD) hits the landing pad. I am crossing my fingers that this is not a crab pattern. When price finds D, you should see evidence of abottom forming at that point, but the lnding pad can be ver…

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