American Stocks Analysis

Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.

City Group sharpens decline - Analysis - 29-05-2018

Economies.com
2018-05-29 13:24PM UTC

City Group's stock (C) kept falling in the intraday levels, recording a new loss of 1.26% in the last session, or 0.87 points, and nearing the support of 67.97, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 55.23 to 80.70), amid negative signals from the RSI, and with negative pressure from the 50-day SMA. 

 

Therefore we expect more losses for the stock, especially if the support of 67.97 was breached, targeting the next support at 64.96, which represents the ratio 61.8% of the same retracement levels. 

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