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Advanced TA SearchArchive
- 4/19/2024 -
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Citigroup Inc. (C) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Citigroup Inc. (C). During the week, the C gave back -0.54 points, or -0.90%, and closed at 59.14 on Friday, April 19, 2024. C was trading at average weekly trading volume.
C is a member of Financials Sector. Financials is the most overbought sector. 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. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 38.98 and resistance is at 74.42. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See C medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 38.17 and reached 63.90 on April 1, 2024. C gained -25.73 points, or -67.41%, in 22 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (61.11) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See C weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 weekly MACD line is above its signal line since November 10, 2023. 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 April 16, 2024 at 56.74 and reached 59.44 on April 19, 2024. C gained -2.70 points, or -4.76%, in 3 days. The price is now at the 11.11% retracement level.
Daily Technical Indicators: [See C daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 3, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
A Parabolic SAR (stop and reversal) indicator (59.5) comes close to the price (59.14). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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