The Tide May Be Shifting for Citigroup as it Crosses Above Its 50 Day Moving Average

The Daily View for Citigroup

  • At the time of this writing, C’s price is down $-0.09 (-0.13%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • 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.
  • 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

  • Currently, C’s price is down $-0.51 (-0.72%) 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.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 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 below 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 USDJPY-Formation of Diagonal pattern at the end of wave IV you may find interesting:

In the weekly chart the price movement is forming a Triangle pattern, we are currently in the C wave from point D.https://www.tradingview.com/x/BBPuYCVq/( Weekly Chart )The daily chart shows the structure of the waves, wh…

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