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  • Why is Citigroup Inc. (NYSE:C) a Buy ? Stock Market Analysis

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    Sunday Mar. 13, 2011 at 01:48 pm EST
     
    Why is Citigroup Inc. (NYSE:C) a Buy ? Stock Market Analysis
    Citigroup Inc. is seen as more stable than other American banks because of its presence in many parts of the World. Citigroup Inc. (NYSE:C) is growing tremendously in Europe and Asia as well as in parts of Africa. This global distribution network gives Citigroup Inc. (NYSE:C) an advantage over the other domestic competitors.

    Also many immigrants in the US prefer Citibank over Bank of America because of the ease of linking their American and their Home country Citi accounts. This gives them greater deposits due to higher saving habits of such workers. Also a major presence in the emerging markets enables Citi to offer their clients an insight into such markets.


    Shares of Citigroup Inc. (NYSE:C) are closed at $4.57 on Friday at support level of $4.62. Major resistance points for Citigroup Inc. (NYSE:C) above current price are at $4.74 and $4.82 while major support levels for Citigroup Inc. below $4.39 are at $4.27, $4.17 and $3.91. Investors are bullish on Citigroup Inc. (NYSE:C) at this price with Initial Target of $4.97.


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