Citigroup's stock manages to post a third consecutive daily gain not seen since July
Shares of Citigroup Inc. (NYSE:C) stock posted a third consecutive daily gain during Thursday’s NYSE trading session. “C” stock has not been able to pull out a third day of gains for 34 trading days until now, not since the beginning of July. Company shares are now just $0.02 away from reaching the previous lower high of $3.95 which was last seen on August, 13.
Furthermore, Citi’s stock is within arms reach of something it seldom fails to do, reclaim a daily price gap. This gap was created during the normal market open of trading for August, 11th. All of this bullish momentum carrying shares of Citi began with a false break of support three days ago, where share valuation dropped below $3.64 which had acted as support just a few days earlier.
Technical factors such as on balance volume (OBV) continue gaining, although at a slightly slower pace. On MACD, a genuine cross has been made along with its histogram, finally. With exception to possible sideways trending during today’s trading session, stochastic has risen from an oversold level so fast it will likely hit an overbought state by the end of today.
Share volume for the company is performing as it was during the beginning of July, with decreased volatility as share price rapidly makes gains. Noteworthy observation, after-market trading of Citi for yesterday was nearly a mirror of the day before. Additionally, positive divergence for MACD has been formed where it had formerly been negative.