Citigroup Inc Stock Forecast

Citigroup Inc stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)

BLW Signals & Forecast

There are mixed signals in the stock today. The Citigroup Inc 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 $13.85. On a fall, the stock will find some support from the short-term average at $13.44. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.20%. Further rise is indicated until a new top pivot has been found. The stock had a Golden Star Signal on Monday, July 24, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Citigroup Inc stock

Citigroup Inc finds support from accumulated volume at $13.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.150 (1.12%) between high and low. For the last week, the stock has had daily average volatility of 0.713%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BLW) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Citigroup Inc to open at $13.50, and during the day (based on 14 day Average True Range), to move between $13.34 and $13.58, which gives a possible trading interval of +/-$0.120 (+/-0.89%) up or down from last closing price. If Citigroup Inc takes out the full calculated possible swing range there will be an estimated 1.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.41 (0.37%) than the resistance at $13.98 (3.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Citigroup Inc stock A Buy?

Citigroup Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.761 Sell Candidate Downgraded

Predicted Opening Price for Citigroup Inc of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.