Citigroup (C) NewsBite - C Covered In a Lee Allen Report Today

Posted on Thursday, September 11, 2008 10:18 AM

Citigroup (C) was covered in a Lee Allen Report today and the stock is now at $17.84, down $.84 (-4.5%) on volume of 18,527,752 shares traded. To see the report and Lee's thoughts on what the unemployment rate could mean for your portfolio go to http://www.iotogo.com/la91108 . Over the last 52 weeks the stock has ranged from a low of $14.01 to a high of $49.00. Citigroup stock has been showing support around $17.64 and resistance in the $19.76 range. Technical indicators for the stock are neutral and S&P gives C a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on C the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]