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's stock skidded 3.53% in the last session, or 2.20 points, confirming the breach of the pivotal support of 63.06, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the long term (from 34.52 to 80.70), amid negative pressure from the 50-day SMA, with negative signals from the RSI, accompanied by a surge in trading volumes.
Therefore we expect more losses for the stock, as long as the resistance of 63.06 holds on, targeting the next support at 57.61, which represents the ratio 50% of the same retracement levels.
Expected trend for today: Bearish