Citigroup may fall to 48.00 - 50.00

60.4 is our pivot point.

Our preference

The downside prevails as long as 60.4 is resistance.

Alternative scenario

The upside breakout of 60.4 would call for 63.9 and 66.

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 share stands below its 20 and 50 day moving average (respectively at 63.9745 and 62.7774). Finally, Citigroup is trading below its lower daily Bollinger band (standing at 57.65).

Supports and resistances

66 **

63.9 *

60.4 **

59

56.56 (USD-last)

52.1

50 **

48 *

46 **

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