Citigroup has had a nice run this month. At this morning’s peak the stock is up over 25% from the October close. Today Citigroup received an upgrade from KBW: https://seekingalpha.com/news/3637958-kbw-switches-out-jpmorgan-for-citigroup-on-outperform-list. In addition to KBW’s bullish comments we believe last week’s key trend line break will carry shares higher in the near term. C is heading for its first weekly close above its 200 day moving average since February 21st. Key hurdle will be the $54.00 area(Sept. highs). Support is in place from the $50.00 to $48.00 area. On the downside a close back below $46.00 would violate last week’s low indicating more basing is ahead.
Long C in some managed accounts.
