City Group emits more positive signals - Analysis - 12-07-2018

City Group's stock (C) fell in the intraday levels, recording a new loss of 0.47% in the last session, or 0.32 points, after the Relative Strength Index reached extremely overbought levels, with negative pressure from the 50-day SMA, settling thereafter anew below 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). 

Therefore we expect more losses for the stock, as long as it settles below 67.97, targeting the next support at 64.96, which represents the ratio 61.8% of the same retracement levels.