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  • Citigroup Inc. (NYSE:C) - Appointed for Sale of Kuwait Airways - Stock Analysis Thursday

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    Thursday August 5, 2010 at 08:42 am EST

    Citigroup Inc. (NYSE:C) appointed for Sale of Kuwait Airways.

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    Lets see the Stock Analysis of Citigroup Inc. (NYSE:C).

    Citigroup Inc. (NYSE:C) is one of the most undervalued stocks at this price. Citigroup Inc. stock has stayed flat since long time and showing no sign of any jump in the near future. In the latest News involving Citigroup, Kuwait appointed Citigroup Inc. (NYSE:C), Ernst & Young and aviation services firm Seabury to handle the privatization of Kuwait Airways, Country's national carrier. The Contracts with the companies will be signed in few days.

    Kuwait's parliament passed a plan to privatize Kuwait Airways in 2008 according to which 40% stake will be sold to public and 35% to long term investors. Kuwait is trying to boost its economy by improving its private sector. Kuwait Airways is fully owned by the Government operating to various international destinations.

    Shares of Citigroup Inc. (NYSE:C) Shares closed at $4.14 on Wednesday Which is near the next resistance level of $4.21. Further Resistance levels for Citigroup Inc. (NYSE:C) are at $4.43 and $4.98
    Support Levels for Citigroup Inc.(NYSE:C) - $3.99 and $3.7.

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