Citigroup may fall to 55.60 - 56.80

Our pivot point stands at 62.6.

Our preference

The downside prevails as long as 62.6 is resistance.

Alternative scenario

The upside breakout of 62.6 would call for 64.6 and 65.8.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 61.458 and 61.6246).

Supports and resistances

65.8 **

64.6 *

62.6 **

61.8

60.62 (USD-last)

58

56.8 **

55.6 *

54.4 **

Number of asterisks represents the strength of support and resistance levels.