Stronger technical forecast for Citigroup stock price after Friday trading.

The Citigroup stock price gained 2.85% on the last trading day (Friday, 23rd Aug 2024), rising from $60.42 to $62.14. During the last trading day the stock fluctuated 2.82% from a day low at $60.74 to a day high of $62.45. The price has risen in 6 of the last 10 days and is up by 7.43% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $674.30 million.

On Aug 20, 2024, it was reported that Daiwa gave C a "Positive" grade with a "hold" action.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Citigroup stock with a 90% probability to be traded between $54.88 and $65.89 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

A buy signal was issued from a pivot bottom point on Wednesday, August 07, 2024, and so far it has risen 10.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Citigroup stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $62.47. On a fall, the stock will find some support from the short-term average at $61.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

On the downside, the stock finds support just below today's level from accumulated volume at $58.76 and $57.84.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Citigroup finds support just below today's level at $58.76. If this is broken, then the next support from accumulated volume will be at $57.84 and $56.21.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.71 between high and low, or 2.82%. For the last week, the stock has had daily average volatility of 1.72%.

Citigroup holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Hold/Accumulate candidate.