Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Citigroup Set To Deliver More Solid Gains

By Anna CoullingStock MarketsMay 24, 2021 07:38AM ET
www.investing.com/analysis/citigroup-set-to-deliver-more-solid-gains-200582014
Citigroup Set To Deliver More Solid Gains
By Anna Coulling   |  May 24, 2021 07:38AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Citigroup (NYSE:C) is one of those stocks where great patience has been required following the strong trend of earlier in the year which saw the price rise from $62 per share to consolidate around the $72 per share price region at the volume point of control.

However, in the last few days, we have seen this stock pick up the baton of bullish momentum once more and break away to close last week at $77.65 per share suggesting there is more to come. So how is the daily chart shaping up for this stock in relation to vpa?

Citigroup Chart
Citigroup Chart

What has been most interesting about the last couple of months’ price action have been the reversals as the price developed the congestion area around the volume point of control and denoted with the yellow dashed line. This was the point at which price agreement had been reached with neither bullish nor bearish sentiment holding sway. It is the point on the VPOC histogram which displays the heaviest transacted volume and where volume price and time combine to present this on the right-hand side of the chart.

Note how each reversal lower saw the associated volume falling away thereby giving a strong clue that selling pressure was weak and therefore any move was likely to run out of steam which was indeed the case. The reason is that for any strong bearish trend to develop, rising volume is required not falling volume as in several cases here.

Now with the price action breaking away from this area bullish sentiment is in the ascendency once more and confirmed with the move through the strong price resistance denoted with the blue dashed line of the accumulation and distribution indicator which was tested on both Wednesday and Thursday followed by a strong close on Friday on a wide spread up candle on good volume. So a nice solid stock that is likely to deliver more gains longer term particularly as we are now reaching a low volume area on the VPOC histogram at the top of the chart.

Citigroup Set To Deliver More Solid Gains
 

Related Articles

Citigroup Set To Deliver More Solid Gains

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email