The following is a little Citigroup ( C ) stock technical analysis for March 23, 2009.Citigroup Support & Resistance Levels - 3/23/09
Resistance Levels: $2.68, $3.00
Support Levels: $2.40, $2.20, $2.00
Citigroup was rejected last week at the 50 day moving average which is a key technical resistance level. It would have taken something major to get a few closes above this level. A close over $2.68 could get C stock back to the $3.00 where there will be the same resistance. If you are buying Citigroup, i'd keep a tight stop at $2.40, a break below that are could be ugly...a close below $2.40 could get even uglier. I will be getting long when Citigroup closes above $3.89 for a run toward $4.32 and above! Citi appears to be continuing the recent downtrend after getting an oversold bounce. If Citi can get back into the $3's, i'd be interested in owning the stock...until then, to much risk for me! Earnings April 17, 2009
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