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Citigroup Rises 1.86% on Heavy Volume: Watch For Potential Pullback
Jan 24, 2013 (SmarTrend(R) News Watch via COMTEX) --
Citigroup (NYSE:C) traded in a range yesterday that spanned from a low of $42.04 to a high of $43.20. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $42.22 on volume of 34.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Citigroup on December 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.48. Since that recommendation, shares of Citigroup have risen 9.2%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Citigroup share prices have moved between a 52-week high of $43.25 and a 52-week low of $24.61 and are now trading 74% above that low price at $42.81 per share. The 200-day and 50-day moving averages have moved 0.19% higher and 0.61% higher over the past week, respectively.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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