City Group seeks a bottom to buoy it - Analysis - 13-10-2017

City Group's stock (C) skidded in the intraday levels, recording a hefty loss of 3.43% in the last session, or 2.57 points, as the stock seeks a bottom to bounce it higher anew, in order to gather positive momentum after the RSI reached extremely oversold levels, with a noticeable rise in trading volumes, as the stock trades within an ascending price channel that limited recent medium-term trading, with positive support from the 50-day SMA.  

Therefore we expect the stock to return higher, as long as the support of 69.65 holds on, targeting the resistance of 76.02.