During the last weeks, the shares of Citigroup are in little demand as the other shares of the banking sector. When the USA stock market had shown a strong rebound from the minimums of March, Citigroup just suspended its falling trend.
In April the falling has recommenced, and the price has fallen to the minimum of autumn 2020. However, several factors currently play in favor of an upward rebound:
1) Appearance of a reversal figure “hammer” on the chart.
2) RSI indicator has reached the zone of extreme oversold;
3) The quarter report will be published on April 14, there can be positive news for investors.
The first goal of “bulls” will be the level of 53,8. If the falling continues, the support may be found near the unclosed gap of November 2020 on the point 43,5.
This content is for informational purposes only and is not intended to be investing advice.
