Citigroup Inc Stock Chart Shows Major Pattern

Published 06/08/2016, 01:22 AM
Updated 05/14/2017, 06:45 AM
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Citigroup Inc (NYSE:C) has a classic head and shoulder pattern showing up on the daily. Remember, head and shoulder patterns are bearish in nature and foretell downside action.

Citigroup will break the neckline at $44.50. The calculated target fall takes the stock from down to $38.00, a 15% drop. Note the chart below. This also tells us that the financial sector may be in trouble in the next few weeks.

Citigroup Inc Chart

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