Citigroup Inc. (NYSE:C) stock has arrived at a crossroad on the daily chart. This Tuesday Citigroup Inc. stock could not break above or below the Monday’s trading range of 3.62 to 3.82, despite making a slight retrace today.
Look to our daily chart and see the daily chart high of 5.43 and the low of 2.55, Citigroup’s stock is 33 cents away from carrying an even middle share price between the daily high and low.
We should see good movement by Thursday’s trading session as momentum picks up, in whichever direction the “C” stock is traded. Do not expect it to sit comfortably within bounds of Monday’s trading range for long.
Although unreliable with such indecision currently with Citigroup’s stock, MACD looks weak and you can see according to its histogram that momentum has been slowing. Slow stochastic has turned bearish but it never managed to rise high enough to provide a reliable indication.
Citigroup’s stock will need to free itself of Monday’s trading range and pierce the high of 4.07 seen on May 27, 2010 or the low of 3.53 seen in May, 05/21/2010 to show us a new bullish, or bearish trend.
Citigroup Inc. (NYSE:C) stock is bound to break free of this indecision and slowed momentum, but a weakening market and even austerity fears in Europe are not lending any helping hands.