The Citigroup Inc. price chart shows that the stock reached a high of $53.14 in February from where the bears came into action. The market fell by roughly 20% to $43.12 within two months. On this level, the stock price took support and rose roughly 18% to $50.42 within a month.
At the $50.42 price level, the resistance was tough. Eventually, the price faced rejection and fell by about 12% reaching the strong support of $43.91 by the end of May.
However, back in June, Citigroup Inc. price took support from the demand zone which was at $43.91 and rose by almost 13% within a month, and reached above the level of $49.37. This level proved to be a strong resistance level as the stock price fell by 7% within a month. Recently, it was observed that the stock is hovering between $45.8 to $46.8 near the support which shows the stock lacks direction.
The average volume is 14.007 Million and the current volume is 10.16 Million (publication time). As observed from the volume graph, the current volume is below the average volume line. Therefore, the present buying volume is decreasing and the price is hovering in a consolidation range.
This month, the stock slightly performed well as it was up by 2.79%. Also, the C stock price was up by 0.43% in the last six months. Moreover, the Citigroup Inc. stock’s year-to-date return is positive with an increase of 2.16%.
The market capitalization of C stock is $90.991 Billion and the total revenue is $101.59 Billion. Moreover, the stock’s basic EPS is $7.21 and the price-to-earnings ratio is 6.42.
The Citigroup, Inc. stock highlights, the annual earnings growth rate of stock is 21.3%, which is higher than the Banks industry average of 15%. Its annual revenue growth rate is 2.7%. Citigroup has a net margin of 19.9% and a return on equity of 7.4%.
Citigroup’s total equity is $209.0 Billion and its total assets are $2,455.1 Billion. It has $1,330.5 Billion in total deposits and $634.8 Billion in total loans. Its Net Interest Margin is 2.3%. It has enough allowance for bad loans, which are only 0.4% of its total loans. It also has a large amount of cash and short-term investments of $1,080.5 Billion.
Citigroup Inc., Technical Analysis in 1-D Timeframe
As per price action in the long term, it seems the Citigroup Inc. price is taking support on the trendline and giving an upward view. Last month, the Citigroup share price retook the support on the trendline and rallied. However, at the nearest support which is at $45.83, the price is consolidating. Therefore, it can be presumed that the stock is indecisive as it can either thrust upward or downward.
At the time of publishing, the Citigroup Inc. price is trading below the 20, 50, 100, and 200-day EMAs which are rejecting the trend. The stock is in an indecisive state as the price is below all EMAs and above the support zone, consolidating.
The MACD line is at -0.0753 and the signal line at -0.0813 below the zero line giving a bearish crossover, giving bearish signals. The current value of RSI is 49.90 points as it is approaching the line of 14 SMA and is headed upwards. The 14 SMA is above the median line of 51.24 points which indicates indecisiveness. As of now, the price is consolidating and volume is dropping.
Conclusion
The Citigroup Inc., price indicates that investors and traders are indecisive on the 1D timeframe. The technical parameters of Citigroup shares suggest the continuation of the price consolidation over the daily time frame chart.
Technical Levels:
- The nearest support: $45.25 and $43.32.
- The nearest resistance: $49.34 and $52.14
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/05/citigroup-inc-price-prediction-can-c-price-go-upwards/