Citigroup Trend May Be Changing as Price Just Breached Below Its 20 Day Moving Average

The Daily View for Citigroup

  • Currently, C’s price is up $0.59 (0.83%) from the day prior.
  • This is the 3rd day in a row Citigroup has seen its price head up.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Of note is that the 100 day changed directions on C; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Citigroup’s hourly price chart is shown below.

C

The Daily View for Citigroup

  • Currently, C’s price is up $0.92 (1.29%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, with price now being above it. 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 AUDUSD – EW analysis – B of Y wave down you may find interesting:

AUDUSD – It is in B of (Y) wave down and expecting soon it will end. Thereafter the C wave will resume the down cycle in double zigzag final move down. Give a thumbs up if you really like the Elliott wave analysis.

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