As Citigroup Weakens, Here’s What the Charts Say Is Next for the Stock

Shares of Citigroup (C) have weakened in the past year and the selloff does not look over yet.

Let’s check out the charts and indicators on the banking giant.   

In the daily bar chart of C, below, we can see the share price weakness over the past 12 months. The shares have failed at the underside of the declining 200-day moving average line in February, August and November. C is back below the 50-day moving average line.

The longer-term trend in the On-Balance-Volume (OBV) line is down. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take profit sell signal and is only slightly above the zero line and an outright sell signal. 

  

In the weekly Japanese candlestick chart of C, below, we see a bearish picture. The shares trade below the bearish 40-week moving average line.

The weekly OBV line has been weak the past two years. The MACD oscillator is bearish. 

In this daily Point and Figure chart of C, below, we can see a downside price target of $44.  

 

In this weekly Point and Figure chart of C, below, we can see a potential downside price target in the $29 area. 

 

Bottom-line strategy: Traders and investors should avoid the long side of C as further weakness is possible.