Citigroup Stock Forecast
Citigroup stock price up 1.41% on Friday
(Updated on Apr 19, 2024)
The Citigroup stock price gained 1.41% on the last trading day (Friday, 19th Apr 2024), rising from $58.32 to $59.14. 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 2.07% from a day low at $58.23 to a day high of $59.44. The price has been going up and down for this period, and there has been a -3.99% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 567 thousand more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $652.89 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 14.67% during the next 3 months and, with a 90% probability hold a price between $65.85 and $74.93 at the end of this 3-month period.
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C Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.72%. Further rise is indicated until a new top pivot has been found. 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 $59.48. On a fall, the stock will find some support from the short-term average at $58.80. 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).
Support, Risk & Stop-loss for Citigroup stock
Citigroup finds support from accumulated volume at $57.09 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 $1.21 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (C) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Citigroup Inc to open at $58.94, and during the day (based on 14 day Average True Range), to move between $57.63 and $60.65, which gives a possible trading interval of +/-$1.51 (+/-2.56%) up or down from last closing price. If Citigroup Inc takes out the full calculated possible swing range there will be an estimated 5.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $59.68 (0.91%) than the support at $57.09 (3.47%), 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?
Citigroup 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.
Current score: -1.827 Sell Candidate Unchanged
Predicted Opening Price for Citigroup Inc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $58.94 ( 0.346%) | $59.14 |
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 | 60.14 | 1.69 % | |
| R2 | 59.68 | 0.92 % | ||
| R1 | 59.40 | 0.434 % | ||
| Current price: | 59.14 | |||
| Support | S1 | 58.47 | -1.13 % | |
| S2 | 58.19 | -1.61 % | ||
| S3 | 57.73 | -2.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.66 | 4.26 % | |
| R2 | 60.13 | 1.67 % | ||
| R1 | 59.68 | 0.91 % | ||
| Current price | 59.14 | |||
| Support | S1 | 57.09 | -3.47% | |
| S2 | 56.17 | -5.02% | ||
| S3 | 55.49 | -6.17% |
C Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 03, 2024 | May 03, 2024 | May 24, 2024 | $0.530 | 0.90% |
| 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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