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Tuesday, July 28, 2009

Citigroup Inc C Stock Analysis July 28 2009

Citigroup Stock Chart - The following is a little Citigroup Inc. ( C ) stock technical analysis for July 28, 2009

Citigroup Inc (C:NYSE) Support & Resistance Levels - 7/28/09

Resistance Levels: $3, $3.18 $3.21, $3.25, $3.32, $3.50

Support Levels: $2.84, $2.75, $2.60, $2.55

Discuss Stocks -

Citigroup stock is on fire today after Barron's wrote a positive article on the company. I bought shares this morning at $2.78 after Citi broke through yesterday's high of the day which was $2.75.

10 Day Moving Average: The technicals look great for a rebound after Citigroup doubled bottomed yesterday at $2.56. ( $2.55 was the low from early July ) Shares are now popping back over the 10 day moving average which is also very bullish.

Resistance: There was some really strong resistance at $3 so a close over $3 would be even more bullish. The next level of technical significance would be the 50 day moving average at $3.18. A close over $3.18 would be huge and i'd expect the stock to rip back up to $3.50 ++

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