Citigroup Inc. (C)
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|It was a first positive week for the Citigroup Inc. (C). During the week, the C gained 0.97 points, or 1.96%, and closed at 50.55 on Thursday, July 2, 2020. Weekly volume was -15% below average. |
C is a member of Diversified Banks Industry. Diversified Banks is the tenth most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See C long-term trend chart]
A long-term downtrend had started on January 14, 2020 at 83.11 and reached 32.00 on March 18, 2020. C lost 51.11 points, or 61.50%, in 9 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See C medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 32.00 and reached 62.47 on June 5, 2020. C gained -30.47 points, or -95.22%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 44.51 and resistance is at 71.11. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See C weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since May 29, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See C short-term trend chart]
A short-term uptrend had started on June 26, 2020 at 49.47 and reached 50.92 on June 29, 2020. C gained -1.45 points, or -2.93%, in 3 days. Price is near the Fibonacci 23.6% retracement level.
Daily Technical Indicators: [See C daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since June 12, 2020. The distance between MACD and the signal line is low and getting smaller.