Citigroup (C) NewsBite - C Could Be On the Move

Posted: Thursday, July 30, 2009 10:30 AM EDT

Citigroup (C) could be on the move today and is now at $3.30, up $0.08 (2.48%) on volume of 159,431,728 shares traded. Over the last 52 weeks the stock has ranged from a low of $0.97 to a high of $23.50. C was covered in a Lee Allen report today. To read the report, and find out whether we could be in the middle of a bear-market rally, go to www.marketintelligencecenter.com/la073009 . Citigroup stock has been showing support around $2.86 and resistance in the $3.40 range. Technical indicators for the stock are bullish and S&P gives C a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on C the stock seems like it could be a candidate for a March covered call above the 3 range. [ABR-Seven Summits Strategic Investments NewsBite]

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