By Tim - http://stockstobuy.org
The following is Citigroup Inc. ( C ) stock technical analysis for November 13, 2010
Citigroup Inc (C:NYSE) Support & Resistance Levels - 11/13/10
Citigroup Inc (C:NYSE) Support & Resistance Levels - 11/13/10
Resistance Levels: $4.55-$4.70
Support Levels: $4.20, $4.08
Support Levels: $4.20, $4.08
Citigroup Inc (C) closed below the 10 day moving average on Friday which is bearish in the short term. This means Citigroup has downside risk to the 50 day moving average ( currently $4.08 and rising ) at anytime. Citigroup Inc needs to close back above $4.31 to attract more technical buyers in which case, resistance would then be located at $4.41. If Citigroup can close above $4.41, I feel it can then retest the $4.47-$4.50 resistance zone. One thing is for sure, the next time the stock market breaks out again, Citigroup and the financials should lead the market.
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