City Group tries to garner momentum - Analysis - 25-11-2022

Economies.com
2022-11-25 13:11PM UTC

City Group's stock (C) fell in the last session after the bank was told it has to fix its weak points in financial data management by US Bank regulators, with the stock tumbling 2.21%, or 1.09 points, and settling at 48.24, with trading volumes surpassing 22.8 million shares, above 10-day averages of 18.2 million shares. 

 

Technically, the stock is boosted by positive pressure from the 50-day SMA, while buoyed by piercing the downward short-term trend line recently, while countered by negative signals from the RSI, in an attempt to gather momentum and rise anew. 

 

Therefore we expect the stock to return higher, targeting the resistance of 54.25, provided it settles above the support of 47.40. 

 

Expected trend for today: Bullish

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