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Technical analysis: CITIGROUP, Inc (#C)

Citigroup Inc. or Citi is an American multinational investment bank and financial services company headquartered in New York City.

Citigroup has recently lost ground with a strong bearish move that has caused it to lose almost 20% since the beginning of June 2020: we believe the conditions are now sufficient for a short-term bullish movement.

The stock has now returned to that horizontal channel with support at $ 69.00 and resistance at $ 75.00

  • The price completed a reversal candle at $ 68.00 and broke above the 9MA

  • The price could consolidate below the 100MA (around $ 72.00) and then continue the bullish recovery

  • MACD is signaling a recovery with a possible bullish crossover in the short term

  • RSI has left the oversold zone, exceeding the 40 mark could support a bullish push

Entry range $71.30 - $ 70.00

Target 1 $74.20

Target 2 $ 77.00

Stop loss $ 67.00

OTB Global Investments

25 June 2021

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