Is CITIGROUP INC Ready to Break Out of Its Range?

Our stockscreener has identified a possible breakout setup on CITIGROUP INC (NYSE:C). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NYSE:C for potential opportunities.

Technical analysis of NYSE:C

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, C scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, C has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, C did better than 87% of all other stocks. We also observe that the gains produced by C over the past year are nicely spread over this period.
• C is one of the better performing stocks in the Banks industry, it outperforms 91% of 411 stocks in the same industry.
• C is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month C has a been trading in the 60.88 - 64.98 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of C contains the most current technical analsysis.

How do we evaluate the setup for NYSE:C?

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:C currently has a 8 as setup rating:

Besides having an excellent technical rating, C also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 63.46, a Stop Loss order could be placed below this zone.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

More breakout setups can be found in our Breakout screener.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.