Citigroup's stock has exited consolidation and posts a seven day high
Shares of Citigroup Inc. (NYSE:C) stock have exited consolidating today, hitting an intraday high of $3.85 in the final minutes of Wednesday’s NYSE trading session. Company shares of Citi exceeded the consolidation channel it had been trending within for six trading days. “C” stock broke out of consolidation at exactly 10:00 A.M. Eastern today, with much bullish momentum surging company shares north.
On balance volume (OBV) had been picking up momentum even while valuation of Citi’s stock had been losing ground to bearish pressure. Stochastic exited an oversold level during trading seen yesterday, and has risen sharply today. MACD’s histogram has erased bearish indication, and is crossing right now.
Given another day of gains, there will be more reliable positive divergence to be found underneath MACD, which bodes well for investors who are concerned with technical figures. Noteworthy is that volume today was just under 100 million shares traded lower than yesterday, and bullish momentum still managed to loft shares of Citi. Trading of the company has ended normal market trading for today at $3.85 per share, breaking above the high of $3.83 seen seven market days ago on August, 23rd.