💾 Citigroup, Inc. | The Chart Looks Different But Still Bad
Citigroup doesn't look as bad as BAC or JPM as it has already been going down strong since June 2021, it also didn't recover much from the 2009 crash and so there is less room for a crash... But it is still quite bearish, the chart!
Here is the chart:
Maybe this people are more down to earth and this is why their stock is doing worse, they know whats coming, their customers are more aware and so they have been selling for a long while.
The others might be in the clouds.
What we went through with the capitulation phase within the Cryptocurrency market and the November 2022 lower low the traditional financial markets still have to go through, we went through the process first.
✔️ Citigroup moved above EMA10 in December 2022 and after struggling a lot it managed to move and close above EMA50 last week. This week this is all lost and we have a high bearish volume close below this very important level.
✔️ Citigroup now trades below all moving averages, a very strong bearish signal.
✔️ What the chart is clearly saying is that a continuation of the bearish trend is likely to take place.
Unless a miracle happens... Something like Trillions of dollars being produced out of thin air, this is like to crash as well with the rest of the giant banks... This is what the chart says.
Bearish all across.
The monthly chart, the main one above, is not as weak but still trading below EMA10 yet this month is still young.
I am getting mixed signals on the monthly chart.
The weekly chart reveals whats to come.
When a timeframe is not clear, we can go to lower timeframes to get a better picture.
Prepare yourself.
Namaste.
Here is the chart:
Maybe this people are more down to earth and this is why their stock is doing worse, they know whats coming, their customers are more aware and so they have been selling for a long while.
The others might be in the clouds.
What we went through with the capitulation phase within the Cryptocurrency market and the November 2022 lower low the traditional financial markets still have to go through, we went through the process first.
✔️ Citigroup moved above EMA10 in December 2022 and after struggling a lot it managed to move and close above EMA50 last week. This week this is all lost and we have a high bearish volume close below this very important level.
✔️ Citigroup now trades below all moving averages, a very strong bearish signal.
✔️ What the chart is clearly saying is that a continuation of the bearish trend is likely to take place.
Unless a miracle happens... Something like Trillions of dollars being produced out of thin air, this is like to crash as well with the rest of the giant banks... This is what the chart says.
Bearish all across.
The monthly chart, the main one above, is not as weak but still trading below EMA10 yet this month is still young.
I am getting mixed signals on the monthly chart.
The weekly chart reveals whats to come.
When a timeframe is not clear, we can go to lower timeframes to get a better picture.
Prepare yourself.
Namaste.
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