CITIGROUP INC (NYSE:C) Technical Analysis observations.

Our stock screener has detected a potential breakout setup on CITIGROUP INC (NYSE:C). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:C.

Zooming in on the technicals.

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 9 out of 10 to C. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• 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. We also observe that the gains produced by C over the past year are nicely spread over this period.
• C is part of the Banks industry. There are 404 other stocks in this industry. C outperforms 81% of them.
• 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 67.92 - 73.38 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Looking at the Setup

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:

C has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 72.15. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 68.58, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:C

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.