The following is a little Citigroup ( C ) stock technical analysis for April 6, 2009.Citigroup Support & Resistance Levels - 4/6/09
Resistance Levels: $2.92, $3.00, $3.35, $3.89
Support Levels: $2.67, $2.40, $2.20
Citigroup tested and bounced off of support this week at $2.20 and $2.40. Citigroup has also closed over the 50 day moving average two more straight days. The 10 day moving average is finally trading above the 50 day moving average, something that hasn't happened since Citigroup was in the $20's back in September. This is very bullish! Should you buy Citi stock next week? Citigroup failed at $3.00 last week so this is the level I am looking to buy at. A break through $3.00 and I am back in on the long side with a tight stop at about $2.90. This is just a trade however! As April 17th comes closer, I will probably not touch this stock! If you didn't know, Citigroup ( C ) releases earnings April 17, 2009. For More Technical Analysis - Go Here
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