Citigroup (C) : Traders are bullish on Citigroup (C) as it has outperformed the S&P 500 by a wide margin of 4.63% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.12%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.08% in the last 1 week, and is up 5.03% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Citigroup Inc. is up 4.01% in the last 3-month period. Year-to-Date the stock performance stands at -9.55%. The stock has recorded a 20-day Moving Average of 3.56% and the 50-Day Moving Average is 7.02%.
Citigroup (NYSE:C): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $46.34 and $46.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.59. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.53, notching a gain of 0.06% for the day. The total traded volume was 12,207,628 . The stock had closed at $46.50 on the previous day.
Also, Berenberg initiates coverage on Citigroup (NYSE:C). Berenberg has a Buy rating on the shares. As per the latest report, the brokerage house announces the price target to $50 per share. The rating by the firm was issued on July 13, 2016.
Citigroup Inc. (Citi) is a financial services holding company, whose businesses provide consumers, corporations, governments and institutions with financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services, and wealth management. The Company operates through two primary business segments: Citicorp and Citi Holdings. Citicorp consists of the operating businesses: Global Consumer Banking, which consists of consumer banking in North America, EMEA, Latin America and Asia, and Institutional Clients Group, which includes Banking and Markets and securities services. Citi Holdings contains businesses and portfolios of assets that Citi has determined are not central to its core Citicorp businesses. Citis consumer operations, as well as the consumer finance business in Korea and certain businesses in ICG form part of Citi Holdings.