City Group exposed to a free fall - Analysis - 10-06-2022

Citigroup's stock (C) skidded and pierced through the support of the 50-day SMA, doubling negative pressures, amid the dominance of the downward correctional short-term trend, with negative signals from the RSI, marking a loss of 2.8%, or 1.44 points, settling at 49.97, with trading volumes surpassing 14.2 million shares, below 10-day averages of 18.3 million shares. 

Therefore we expect more losses for the stock, targeting the support of 45.40, provided the resistance of 54.00 holds on.

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Expected trend for today: Bearish