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Watch for Shares of Citigroup Inc (C) to Approach Support at $71.51

Mar 29, 2021 (SmarTrend(R) News Watch via COMTEX) --
Shares of Citigroup Inc (NYSE:C) have bearishly opened below the pivot of $72.75 today and have reached the first support level of $72.26. Investors may be interested in a cross of the next downside pivot targets of $71.51 and $70.27.

Over the past year, Citigroup Inc has traded in a range of $32.00 to $83.11 and is now at $71.72, 124% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.8%.

There is potential upside of 17.6% for shares of Citigroup Inc based on a current price of $71.72 and an average consensus analyst price target of $84.33. The stock should discover initial support at its 50-day moving average (MA) of $66.72 and subsequent support at its 200-day MA of $55.11.

SmarTrend recommended that subscribers consider buying shares of Citigroup Inc on February 8th, 2021 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.28. Since that recommendation, shares of Citigroup Inc have risen 15.4%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to SmarTrend at cs@mysmartrend.com

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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com

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