C breaks key support level


Citigroup Inc. (C) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
C breaks key support level
C dominated by bears dragging the market lower throughout the day
C closes lower for the 4th day in a row
C ends the day on a bearish note closing near the low of the day
C breaks below previous session low
TQ Sentiment
Report Sentiment: 66% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, C finished Thursday at 66.16 losing $1.13 (-1.68%) on high volume. Today's closing price of 66.16 marks the lowest close since May 29th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 67.22, the stock confirms its breakout through the prior session's low having traded $1.27 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for C
Volatility

Thursday's trading range was $1.66 (2.46%), that's far above last trading month's daily average range of $1.13. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking below the key support level at 66.46 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's low at 65.20, downside momentum could accelerate should the market break out to new lows for the year.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only bearish while our quantitative statistics show a very bearish sentiment.

Market Conditions for Citigroup Inc.
Condition Forecast Direction Win Avg Worst Best Events
Bullish Break through SMA 100 TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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