Citigroup Inc. (NYSE:C) stock finally refills a significant 2010 price gap leaving only one remaining from all of year 2010
Citigroup Inc. (NYSE:C) stock has finally done something that many traders would had never thought possible half way through January of this year. Shares of Citi have finally caved in under enough bearish pressure to refill the December 7, 2010 price gap. Investors with deep pockets, institutional or otherwise, are having difficulty finding reason to keep stockpiling shares of Citi.
Citi’s technical condition is starting to become increasingly dire as this current slump in performance continues to persist. While this presents potential, perhaps even fascinating opportunity for traders who attempt to buy in as close to a bottom as possible, it is enough to drive shareholders mad who bought in on the same day that this refilled price gap was formed – and held to date. Citi’s technical picture shows no probable indication that the rout of share value has bottomed so far, and forbid a retrace to the final southern gap that was created on December 1, 2010.
Citigroup Inc. (C) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services. Citi has approximately 200 million customer accounts and does business in more than 140 countries. The company has a market value of $130,897,392,625 at the time of writing, with 29,056,025,000 shares outstanding.