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Citigroup(C - Get Report) provides financial products and services, including consumer banking, credit cards, corporate and investment banking, securities brokerage and wealth management. This stock is trading up 1.7% at $45.54 in recent trading.
Today's Volume: 38.92 million
Average Volume: 32.01 million
Volume % Change: 74%
Shares of C are jumping higher here after the company reported better-than-expected earnings for the first quarter of 2013.
From a technical perspective, C is moving higher here right above its 50-day moving average of $44.15 with above-average volume. This move is quickly pushing shares of C within range of triggering a major breakout trade. That trade will hit if C manages to take out its 52-week high at $47.92 with high volume.
Traders should now look for long-biased trades in C as long as it's trending above its 50-day at $44.15, and then once it sustains a move or close above $47.92 with volume that hits near or above 32.01 million shares. If that breakout triggers soon, then C will set up to enter new 52-week high territory above $47.92, which is bullish technical price action. Some possible upside targets off that breakout are $50 to $51.50.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.