September 20 Chart of the Day - Citigroup
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Citigroup (C) - is one of the largest banks in the world. It's a global banking powerhouse with millions of customers, thousands of offices spanning more than 160 countries, and over $2 trillion in assets.
Citigroup's CEO recently announced layoffs in the face of declining demand caused by the Federal Reserve's raising interest rates by 5.25% since March 2022...
What's extremely noticeable on the monthly chart is its parabolic rise and meteoric fall over time. Not too unlike AMC or Peloton.
Even with that we can use price action technical analysis to identify potential levels of interest in both directions. On the weekly chart we can see that price as been making a series of higher highs and higher lows for over a decade however, price may be approaching a significant decision and test in the form of a long term trend line.
Be sure to watch the video to see our specific price levels of interest!
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
Take a look at the charts and let us know what you think.
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