Financial stocks have bounced in the last two weeks, and Citi is one of the biggest members of the group.
A few patterns stand out on the banking giant’s chart. First is its breakout above the 50-day simple moving average (SMA), followed by a pullback to hold that line.
Next is the late June highs around $71.50, near the current level.
Third, notice how the 8-day exponential moving average (SMA) is now above the 21-day EMA. This may indicate shorter-term momentum has grown more bullish. In addition, MACD has been rising for almost a month.
Overall, C is one of the weaker names in the financial space. However this current setup may offer more apparent entries than stronger stocks like
Goldman Sachs and 
Wells Fargo. It also stands to benefit if the current rotation toward value continues and the Federal Reserve tapers (as officials like Raphael Bostic and Richard Clarida have suggested this month).
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
A few patterns stand out on the banking giant’s chart. First is its breakout above the 50-day simple moving average (SMA), followed by a pullback to hold that line.
Next is the late June highs around $71.50, near the current level.
Third, notice how the 8-day exponential moving average (SMA) is now above the 21-day EMA. This may indicate shorter-term momentum has grown more bullish. In addition, MACD has been rising for almost a month.
Overall, C is one of the weaker names in the financial space. However this current setup may offer more apparent entries than stronger stocks like
Goldman Sachs and Wells Fargo. It also stands to benefit if the current rotation toward value continues and the Federal Reserve tapers (as officials like Raphael Bostic and Richard Clarida have suggested this month).TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.