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  • Citigroup Inc. (NYSE:C) is in the Oversold Territory

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    Monday June 6, 2011 at 09:21 am EST
    Citigroup Inc. (NYSE:C) is in the Oversold Territory
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    Shares of Citigroup Inc. (NYSE:C) closed at $39.85 on Friday near the support level of $39.8. Major support levels for Citigroup Inc. (NYSE:C) below Friday's close are at $39.2, $38.1 and $36.43. Major resistance levels above $39.85 are at $41.28, $42.74, $44.21 and $45.12. Investors are highly negative on Financial stocks currently after poor Job data.

    Markets in Asia also dropped on Monday after weak Job data in US and concerns over the economy. With fears of a double dip in the housing market, Shares of big financial banks including Citigroup Inc. (NYSE:C) are expected to drop even further.

    Shares of Citigroup Inc,. (NYSE:C) have dropped almost 10% in one month and are currently in oversold territory. Citigroup Inc. Shares can get a lift Today if no more negative news comes for the financials.

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