d.vezeris

Citigroup Inc Daily (28.5.2014)Tricky Break of downtrend channel

NYSE:C   CITIGROUP INC
c
35 0 0
c
Citigroup             (C) price cosnolidates between $46.22 to $47.50. Yesterday it moved into the KUMO but it failed to break the top of it. Today it tries to insert in the KUMO again. Kijun Sen and Tenkan Sen is under the KUMO. These stuff is bearish as we see the movement of the stock into the desceding triangle with the very strong support line.

In all this picture we have some bullish signs like:
a) Tricky break over the asceding triangle as the price is near the end of it,
b) MACD is bullish and RSI too,
c) The price struggle to go higher but not lower.

I think that if the price today closes in the KUMO the thinks will be bullish again because of a reversal structure over the support line at $46.11.
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