City Group keeps falling - Analysis - 14-12-2018

City Group's stock fell 0.38% in the last session, or 0.21 points, amid negative pressure from the 50-day SMA, while settling below 57.61, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the long term (from 34.52 to 80.70). 

Therefore we expect more losses for the stock, as long as it settles below 57.61, targeting the next support at 52.16, which represents the ratio 61.8% of the same retracement levels. 

Expected trend for today: Bearish