Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Citigroup Inc.’s latest quarterly earnings report for the period ending June 2023 displayed a revenue of $38.13 Billion, with a net income of $2.88 Billion, and a loss in profit margin from the last quarter of 7.56%.
This quarter, the reported revenue exceeded analysts’ estimates by $94.153 Million (0.49%). Moreover, the C stock reported an EPS of $1.33 for the period ending June 2023, beating the analysts’ estimate of $1.301 by 2.21%.
The next quarter’s revenue is estimated to be $19.23 Billion and the estimated EPS is $1.236. The report will be released on October 13, 2023.
The C stock’s dividend yield for the TTM is 5.03% and its last dividend payment was $0.53 per share. The last ex-dividend date was August 4th, 2023 and its payout ratio was 32.36%.
C stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $2.42 Trillion and total liabilities of $2.21 Trillion. The debt-to-assets ratio is at 91.36%.
C Stock Price Technical Analysis in 1-D Timeframe
The C stock has a CMP of $40.57 and an intraday gain of 1.73%. The stock’s average volume for the last 10 days is 17.18 Million and its current volume is 17.08 Million. The C stock has a float of 1.919 Billion shares and a market cap of $78.126 Billion.
The C price gave a breakdown out of a symmetrical triangle pattern around the price of $45. The price was in a long consolidation phase which eventually broke. At press time the stock is trying to sustain.
Therefore, if the stock continues to fall below and if it breaks below the current levels and breaks below $39 support then it could fall up to $34.
Alternatively, if Citigroup stock manages to gain strong buying momentum and surges, it could trigger a rally and the probable resistance levels are $45 and $50.
At the time of publishing, the major EMA’s in Citigroup Inc. (NYSE: C) are bearish MACD shows a bearish cross on the charts and RSI is at 42 taking slight support from 14 SMA.
However, the C stock ratings for stock are positive and highly recommended based on 27 analysts who have evaluated stock in the last three months. The 1-year price forecasts for stock by 24 analysts range between $41 to $95.
Summary
Citigroup Inc. (NYSE: C) price chart indicates that the traders and investors of the stock price are bullish and positive on the 1-D time frame. However, the price action shows a bearish outlook at the time of publishing as it gave a breakdown out of the symmetrical triangle pattern. The technical analysis tools of Citigroup stock price such as EMA, RSI, and MACD highlight downward signals and support bearishness.
Technical Levels
Support levels: $39 and $34
Resistance levels: $45 and $50
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/07/c-stock-forecast-will-nyse-c-price-drag-upto-30-soon/