Citigroup Stock In A Tough Position

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Citigroup Stock In A Tough Position

By David Spurr on December 21, 2008 | More Posts By David Spurr | Author's Website

Citigroup (C) is in a tough position. It’s teetering on support of 7.00. Currently closed at 7.02; If it can’t break above the trendline overhead, then next stop is 5.92. Failure there could take it quickly to 3.76 and eventually a re-test of the lows. I’m expecting C to break lower as all indicators point down.

Citigroup reports on January 22 at 8:30am prior to market open.

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