Stock-Market Analysis for Citigroup Inc. (NYSE:C)
Monday August 23, 2010 at 09:12 am EST
Citigroup’s stock has dropped to $3.75 at the support level of $3.74. Citi is the most popular stock traded in the stock market with average volume of 418 million shares traded. The chief reason that holds Citi stock from going up is the fact that the Treasury still holds around 5 billion shares of Citigroup Inc. (NYSE:C). Treasury will play an important part in deciding the direction of C shares further.
Citigroup Inc. (NYSE:C) Shares closed at $3.75 on Friday Which is near support level of $3.74. Resistance levels - $3.86, $3.98 and $4.1. Support Levels - $3.74, $3.46 and $3.19.
Shares of Citigroup Inc (NYSE:C) have a short term target of $5.4 but there are good chances that Citi will cross this target very easily once Treasury sells its shares. 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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Monday August 23, 2010 at 09:12 am EST
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