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  • Citigroup Inc. (NYSE:C) - Stock Market Report Today

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    Wednesday August 25, 2010 at 08:56 am EST
     
    Citigroup Inc. (NYSE:C) Guru Analysis
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    Citigroup Inc. (NYSE:C) said on Wednesday that it can generate enough capital from its Asian business to expand in China without selling shares in China. “We have the ability to invest today at a pace exceeding that of any time in our history,” said Stephen Bird, chief executive officer of Citigroup Asia, “We actually don’t need to raise any capital from here in Shanghai.” It is notable that Citi Asian Division has been performing well, much better than in US.

    Citigroup Inc. (NYSE:C) stock has dropped to $3.71 near the support level of $3.74. the support levels below that at $3.43 and $3.19 which are very weak. Volume on Tuesday was 443 million shares which is more than the average volume of 418 million for Citigroup Inc. (NYSE:C). Resistance levels for Citigroup inc. - $3.85, $3.95 and $4.1. Support Levels - $3.74, $3.46 and $3.19.

    Shares of Citigroup Inc (NYSE:C) have a 1 yr target of $5.5. Traders are speculating that the stock will rise to $10 once the Fed sells all its shares. Last week there was a little setback on News that Settlement with SEC was rejected by Court. Earlier last week, Citigroup was appointed for selling securities by TATA motors group. 



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