This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citigroup Rebounds, Stays Below Its 200-Day Simple Moving Average

NEW YORK (TheStreet) - Citigroup (C - Get Report)  beat analysts' estimates on earnings per share by 16 cents earning $1.24. This report was released before the opening bell on Monday and this followed the company's announcement that they settled their subprime mortgage probe paying $7 billion.

Citi shares are currently trading around $48.45, down over 7% for the year to date.

When I crunched the numbers for the 24 components on the KBW Banking Index on July 7 I noted that Citigroup has a year-to-date decline of 7.4% since its July 3 close at $48.24.

Let's look at the daily chart for Citigroup:

Courtesy of MetaStock Xenith

Citigroup traded as high as $48.83 on Monday morning hopping above its 21-day and 50-day simple moving averages at $47.61 and $47.57, respectively, but stayed shy of its 200-week SMA at $49.24.

>>Citigroup's Bad Bank Drives Second-Quarter Profit Despite Mortgage Settlement

>>Why JPMorgan Is Undervalued on Long-Term Earnings Growth Estimates

I am not showing Citi's weekly chart, but the stock will have a positive weekly chart given a close this week above its five-week modified moving average at $47.73 with its 200-week SMA at $40.91.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
C $54.97 0.24%
WFC $56.00 -0.02%
AAPL $132.54 0.88%
FB $80.54 0.07%
GOOG $540.11 -0.44%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs