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Citigroup (C) Crosses Pivot Point Resistance at $42.68
Feb 07, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Citigroup (NYSE:C) have bullishly opened above the pivot of $42.43 today and have reached the first resistance level of $42.68. Should the shares continue to rise, the resistance pivots of $43.16 and $43.89 will be of interest.
In the past 52 weeks, shares of Citigroup have traded between a low of $24.61 and a high of $43.49 and are now at $42.53, which is 73% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.0%.
Potential upside of 10.7% exists for Citigroup, based on a current level of $42.53 and analysts' average consensus price target of $47.08. The stock should discover initial support at its 50-day moving average (MA) of $39.86 and subsequent support at its 200-day MA of $33.07.
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 11.9%. 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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