TMCnet News
Citigroup (C) Approaches New Upside Target of $43.28Feb 25, 2013 (SmarTrend(R) News Watch via COMTEX) -- Citigroup (NYSE:C) has opened bullishly above the pivot of $42.72 today and has reached the first level of resistance at $43.04. Should the shares continue to rise, the resistance pivots of $43.28 and $43.84 will be of interest. Citigroup (NYSE:C) has potential upside of 15.3% based on a current price of $43.00 and analysts' consensus price target of $49.60. The stock should discover initial support at its 50-day moving average (MA) of $41.57 and subsequent support at its 200-day MA of $33.64. Over the past year, Citigroup has traded in a range of $24.61 to $44.71 and is now at $43.00, 75% above that low. The 200-day and 50-day moving averages have moved 0.64% higher and 1.20% higher over the past week, respectively. SmarTrend recommended that subscribers consider buying shares of Citigroup on December 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.48. Since that recommendation, shares of Citigroup have risen 10.1%. We continue to monitor C for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |