City Group hits SMA resistance - Analysis - 05-07-2023

Citigroup's stock (C) rose in the intraday levels, touching the resistance of the 50-day SMA, while trading alongside the downward short-term trend line, marking a cautious profit of 1.52% in the last session, or 70 cents, and settling at 46.74, while venting off oversold saturation in the RSI, with positive signals out of them. 

Therefore we expect the stock to return lower, targeting the pivotal support of 43.70, provided it settles below the resistance of 47.50. 

Expected trend for today: Bearish