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