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Watch for Citigroup to Potentially Rebound After Falling 2.92% Yesterday
Jan 17, 2013 (SmarTrend(R) News Watch via COMTEX) --
Citigroup (NYSE:C) traded in a range yesterday that spanned from a low of $40.90 to a high of $41.62. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $41.71 on volume of 80.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
In the past 52 weeks, shares of Citigroup have traded between a low of $24.61 and a high of $43.25 and are now at $41.23, which is 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.3%.
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 10.4%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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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