Citigroup Trend May Be Changing as Price Just Breached Below Its 50 Day Moving Average

The Daily View for Citigroup

  • At the time of this writing, C’s price is up $0.2 (0.29%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • 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 20 day changed directions on C; it is now pointing up. 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 time of this writing, C’s price is up $0.89 (1.27%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 50 day moving average, resulting in them 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 Bull Flag you may find interesting:

C is at 116.21 for ABC bullish pattern which is also C for the bull shark pattern.Volume has slacked off a bit but not unusual in a flag formation.Possible stop under flag, under C or last pivot low.No recommendation The overall trend looks to be broadening.A security can spend some time pulling back in a flag formation and a bull flag does not always break to the upside. The bottom trendline is support and the top one is resistance. Price sh…

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