Citigroup Inc (NYSE:C) HEFFX Highlights

Citigroup Inc (NYSE:C) HEFFX Highlights

Citigroup Inc (NYSE:C) HEFFX Highlights

  • EPS: $1.28 vs. $1.21 expected by Thomson One analysts’ consensus.
  • Revenue: $17.901 billion vs. $17.367 billion expected by Thomson One.
  • Citigroup’s “Markets and Securities Services” revenue declined by 5 percent year over year, largely because of an 11 percent pullback in equity markets sales.
  • U.S. bank Citigroup Inc (C.N) is set to become the latest Wall Street bank to pick Frankfurt as its European Union base this week in preparation for when Britain leaves the European Union, two sources told Reuters on Monday.
  • Citi had earlier said it would choose Frankfurt to become its hub for sales and trading in the EU and move “a couple of hundred” jobs outside of London after Brexit. Citi’s European base move was reported on Monday by Sky News.
  • British finance minister Philip Hammond said this month that the country should push for a transitional deal to help businesses, as the government held its first high level meeting with corporate leaders to discuss Brexit.

Citigroup Inc. (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The Company operates through two segments: Citicorp and Citi Holdings. Citicorp is the Company’s global bank for consumers and businesses and represents its core franchises. Citicorp is focused on providing products and services to customers and leveraging the Company’s global network, including various economies. As of December 31, 2016, Citicorp was present in 97 countries and jurisdictions, and offered services in over 160 countries and jurisdictions. Global Consumer Banking (GCB) provides traditional banking services to retail customers through retail banking, including Citi-branded cards and Citi retail services.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 63.90.

The projected upper bound is: 69.22.

The projected lower bound is: 65.04.

The projected closing price is: 67.13.

CITIGROUP closed up 0.110 at 67.000. Volume was 100% below average (consolidating) and Bollinger Bands were 48% wider than normal.

Open          High            Low           Close         Volume
67.000       67.000       67.000      67.000      219

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period          50-period         200-period
Close:                       67.14                  63.78                58.69
Volatility:                11                        21                       23
Volume:                   15,368,453       17,233,126       18,891,088

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

CITIGROUP is currently 14.2% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of C at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on C and have had this outlook for the last 56 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.4187. This is not an overbought or oversold reading. The last signal was a buy 3 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 61.95. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 7 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -36. This is not a topping or bottoming area. The last signal was a sell 8 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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