Citigroup Inc. (NYSE:C) stock is poised to post the first weekly gain of the past three weeks as trading winds down for the weekend
Citigroup Inc. (NYSE:C) stock shareholders might not think it initially to begin with, but Citi is poised to close the week out with a gain if the daily trend manages to hold steady before trading closes for this week. Share valuation of Citi continues to be under fire with two recent consecutive weeks of losses, but if investors can walk away with a week in the black, even to the tune of a few mere pennies, it’s better than the alternative. Intraday trading continues to range sideways with a noticeable amount of bullish sentiment, yet it’s going nowhere fast.
Bearish momentum has subsided for Citi at this time, in fact Citi has rebounded one cent ahead of the standing low of $4.50 per share. However, shares continue to consolidate as price action begins to tighten even more for Citi – this is also portrayed with on balance volume as well. Thoughts of breakout are on the mind of some traders of Citi, but with positive bias lightly sustained from January 20 through February 18 shows that even a probable scenario of a bullish break to the north do not always occur as anticipated.
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 $132,204,913,750 at the time of writing, with 29,056,025,000 shares outstanding.