The following is a little Citigroup ( C ) stock technical analysis for April 21, 2009Citigroup Support & Resistance Levels - 4/21/09
Resistance Levels: $3.00, $3.43, $3.89, $4.48
Support Levels: $2.80, $2.70, $2.62, $2.40
Citigroup stock broke and closed below the 10 day moving average yesterday and is now approaching key support of the 50 day moving average at $2.62. Over the past month, $2.40-$2.70 has been a solid support range for Citi stock and it would take a huge event to break this support level. Since breaking up through $2, Citigroup hasn't looked back so obviously a break below $2 would be horrible but I don't see that happening unless the stress test is bad.
On the upside for Citigroup, a close above $3.43 would be very bullish and I think Citi would retest $3.89-$4. On a longer term basis, a close above last weeks high of $4.48 would send Citi back to test $5.50-$6 For More Technical Analysis - Go Here
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