Citigroup Stock Forecast
Citigroup stock price up 0.332% on Friday
(Updated on May 10, 2024)
The Citigroup stock price gained 0.332% on the last trading day (Friday, 10th May 2024), rising from $63.32 to $63.53. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.27% from a day low at $63.12 to a day high of $63.92. The price has risen in 6 of the last 10 days and is up by 1.39% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 9 million shares were bought and sold for approximately $557.42 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 14.46% during the next 3 months and, with a 90% probability hold a price between $68.10 and $77.20 at the end of this 3-month period.
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C Signals & Forecast
Mostly positive signals in the chart today. The Citigroup stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $62.50 and $61.37. 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 11.42%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Citigroup stock
Citigroup finds support from accumulated volume at $62.75 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 $0.80 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $60.52 (-4.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (C) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Citigroup Inc to open at $63.52, and during the day (based on 14 day Average True Range), to move between $62.20 and $64.86, which gives a possible trading interval of +/-$1.33 (+/-2.10%) up or down from last closing price. If Citigroup Inc takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $62.75, some $0.780 (1.23%) from the current price of $63.53, our system finds the risk reward attractive.
Is Citigroup Inc stock A Buy?
Citigroup holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.286 Strong Buy Candidate Unchanged
Predicted Opening Price for Citigroup Inc of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
$63.52 ( 0.0105%) | $63.53 |
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 | 64.32 | 1.25 % | |
R2 | 64.02 | 0.768 % | ||
R1 | 63.83 | 0.471 % | ||
Current price: | 63.53 | |||
Support | S1 | 63.22 | -0.492 % | |
S2 | 63.03 | -0.789 % | ||
S3 | 62.72 | -1.27 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 63.53 | |||
Support | S1 | 62.75 | -1.23% | |
S2 | 61.33 | -3.46% | ||
S3 | 59.68 | -6.06% |
C Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 03, 2024 | May 03, 2024 | May 24, 2024 | $0.530 | 0.83% |
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
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