NYSE:C may be ready to breakout.

Our stock screener has flagged CITIGROUP INC (NYSE:C) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:C for potential movement.

In-Depth Technical Analysis of NYSE:C

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall C gets a technical rating of 8 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, C is showing a nice and steady performance.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• C is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so C is performing more or less in line with the market.
• In the last month C has a been trading in the 60.96 - 67.81 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• When comparing the yearly performance of all stocks, we notice that C is one of the better performing stocks in the market, outperforming 84% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
• C is part of the Banks industry. There are 407 other stocks in this industry, C did better than 53% of them.

For an up to date full technical analysis you can check the technical report of C

How do we evaluate the setup for NYSE:C?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:C scores a 8 out of 10:

Besides having an excellent technical rating, C also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 63.19, a Stop Loss order could be placed below this zone.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Of course, there are many ways to trade or not trade NYSE:C and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.