Citigroup Stock Chart - The following is a little Citigroup Inc. ( C ) stock technical analysis for July 16, 2009Citigroup Inc (C:NYSE) Support & Resistance Levels - 7/16/09
Resistance Levels: $3.20, $3.25, $3.32, $3.50
Support Levels: $3, $2.85, $2.55, $2.40, $2.25
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Citigroup stock has been failing around $3.20 after a nice bounce from oversold conditions. From this point on, support at $3 must hold or the risks to retesting $2.85 and down to $2.55 are high. If you are thinking about taking a long position, wait for a close over the 50 day moving average ( currently $3.32 ) which would trigger a buy signal technically.A close below $2.55 at any time would be very bearish and I think you could see a retest of $2.25 down to $2.00. I am personally waiting for Citigroup to close over $4 before I buy the stock....a close over $4 would be for a good fundamental reason and I think C stock could then run to $5-$6 For more Technical Analysis - Go Here
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