Citigroup: a 2.2% bounce, but confirmation still pending
Citigroup bounces 2.2% off a double bottom, the Sell signal still hangs in the balance
Citigroup: a 2.2% bounce, but confirmation still pending
Our view last week
This week Citigroup's stock drops 8.1%, with sellers firmly in control and a distribution phase underway: buyer dominance has collapsed and the last bar saw sellers take over in extreme fashion. A fresh sell signal has kicked in, ranking 4th among the 140 US stocks under a sell signal in our weekly technical analysis. The price still sits well above its 200-week average, and the financial sector keeps showing real strength.
This week's summary
Citigroup shares bounce 2.2% off a clean double bottom in the 131 area, but money flow stays negative and sellers still have the upper hand on volume. The Sell signal is in its second week and confirmation hasn't arrived yet: signal strength drops to 40 out of 100, an isolated decline with no new lows. After last week's 8.1% plunge, the stock still trades well above its 200-week average; our weekly technical analysis flags trading as not recommended for a fresh entry.
IQS Phase
60
ordinary
Signal Strength
40
isolated weekly drop
Sizing
REDUCED
Ranking
#65 / 141
US stocks sell signals
Trade P&L %
-2.19%
from signal to today
Rank position
ranks 65th among the 141 sell signals for US stocks in our ranking, with a signal strength of 40 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly +0.09% · monthly +4.82%
C belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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