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C = Catalyst for a Stock’s Movement
Citigroup provides consumer banking and credit, corporate and investment banking, securities, brokerage, wealth management and transaction services. The company and its corresponding sector have received a good amount of negative press over the last few years but they seem to be recovering. In any case, the financial sector is the backbone of the economy so look for this sector, along with its companies, to continue to see increased profits as the world gets back on track.
T = Technicals on the Stock Chart are Strong
Citigroup’s long-term price chart displays the euphoric rise into the mid-2000s and subsequent disastrous fall of 2008. Over the last few years, the stock has recovered a bit to price levels not seen since early 2011. Citigroup is currently trading near multi-year resistance so it may need to pause here before its next leg higher. So far, there looks to be constructive price action from Citigroup stock.
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