By Tim - http://stockstobuy.org
The following is Citigroup Inc. ( C ) stock technical analysis for August 22, 2010
Citigroup Inc (C:NYSE) Support & Resistance Levels - 8/22/10
Resistance Levels: $4.27, $4.30, $4.35
Support Levels: $3.70, $3.62, $3.53
Support Levels: $3.70, $3.62, $3.53
Chart - http://www.stockcharts.com/
Citigroup Inc (NYSE:C) closed below all three major moving averages for the 8th straight day. Citigroup Inc now has support located between $3.62-$3.70 and this would be a solid long term buying point. Citigroup Inc has resistance located between $3.88-$4.00 and sellers will now be lined up in this zone. Longer term, when Citigroup closes back above $4.30, it will be ready to rock again! If Citigroup does happen to break down through $3.62, I'd wait for a retest of $3.53.
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