City Group moves in a positive zone - Analysis - 20-03-2019

City Group's stock traded above the support of 64.59, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 80.70 to 48.49), with positive support from the 50-day SMA, coupled with positive signals from the RSI. 

Therefore we expect more gains for the stock as long as it settles above 64.59, targeting the next resistance at 68.39, which represents the ratio 61.8% of the same retracement levels. 

Expected trend for today: Bearish