Citigroup Stock Forecast
Red day on Wednesday for Citigroup stock after losing 0.319%
(Updated on Apr 24, 2024)
The Citigroup stock price fell by -0.319% on the last day (Wednesday, 24th Apr 2024) from $62.67 to $62.47. During the last trading day the stock fluctuated 1.44% from a day low at $61.84 to a day high of $62.73. The price has risen in 6 of the last 10 days and is up by 3.81% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 million shares and in total, 10 million shares were bought and sold for approximately $607.19 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.57% during the next 3 months and, with a 90% probability hold a price between $66.26 and $75.34 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
C Signals & Forecast
The Citigroup stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $59.82 and $60.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.56%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Citigroup stock
Citigroup finds support from accumulated volume at $59.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.89 between high and low, or 1.44%. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: $60.05 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (C) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Citigroup Inc to open at $62.35, and during the day (based on 14 day Average True Range), to move between $60.95 and $63.99, which gives a possible trading interval of +/-$1.52 (+/-2.43%) up or down from last closing price. If Citigroup Inc takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $62.67 (0.32%) than the support at $59.68 (4.47%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Citigroup Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Citigroup stock to perform well in the short-term.
Current score: 2.076 Buy Candidate Unchanged
Predicted Opening Price for Citigroup Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $62.35 ( 0.197%) | $62.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for C
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.24 | 1.23 % | |
| R2 | 62.90 | 0.683 % | ||
| R1 | 62.69 | 0.347 % | ||
| Current price: | 62.47 | |||
| Support | S1 | 62.01 | -0.742 % | |
| S2 | 61.80 | -1.08 % | ||
| S3 | 61.46 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.24 | 1.23 % | |
| R2 | 62.75 | 0.448 % | ||
| R1 | 62.67 | 0.320 % | ||
| Current price | 62.47 | |||
| Support | S1 | 59.68 | -4.47% | |
| S2 | 57.09 | -8.61% | ||
| S3 | 56.17 | -10.08% |
C Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 03, 2024 | May 03, 2024 | May 24, 2024 | $0.530 | 0.85% |
| 2 | Jan 11, 2024 | Feb 02, 2024 | Feb 23, 2024 | $0.530 | 0.95% |
| 3 | Oct 19, 2023 | Nov 03, 2023 | Nov 22, 2023 | $0.530 | 1.18% |
| 4 | Jul 20, 2023 | Aug 04, 2023 | Aug 25, 2023 | $0.530 | 1.29% |
| 5 | Apr 03, 2023 | Apr 28, 2023 | Aug 25, 2023 | $0.510 | 1.24% |
FAQ
Click here for our free guide on how to buy Citigroup Stock.
