Citigroup shares close higher on Tuesday, holding expects a “low double-digit” growth in Q1 trading revenue

According to a March 7th statement by John Gerspach, Citigroup Incs Chief Financial Officer, the financial holding projects that trading revenue will probably register a “low double-digit” growth during the first quarter compared to the same period a year ago.

Citigroup shares closed higher on Tuesday, while marking their fourth gain in the past eight trading sessions. The stock edged up 0.36% ($0.22) to $60.50, with the intraday high and the intraday low being at $60.71 and $59.78 respectively. In the week ended on March 5th the shares of the financial group added 2.42% to their market value compared to a week ago, which marked the fourth gain in the past six weeks, but yet, the smallest one since the week ended on February 5th. The stock has extended its advance to 1.15% so far during the current month, following a 7.13% surge in February. The latter has been the best monthly performance since November 2016. For the entire past year, the shares of the NYSE-listed financial holding company gained 14.84%.

In a statement at an investor conference on Tuesday, Citigroups CFO noted that revenue in both equity and fixed income market segments was “doing well”.

The official results regarding the first three months of the year are to be reported on April 13th.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Citigroup stock are presented as follows:

R1 – $60.59
R2 – $60.67
R3 (Range Resistance – Sell) – $60.76
R4 (Long Breakout) – $61.01
R5 (Breakout Target 1) – $61.31
R6 (Breakout Target 2) – $61.44

S1 – $60.41
S2 – $60.33
S3 (Range Support – Buy) – $60.24
S4 (Short Breakout) – $59.99
S5 (Breakout Target 1) – $59.69
S6 (Breakout Target 2) – $59.56

By using the traditional method of calculation, the weekly levels of importance for Citigroup Inc (C) are presented as follows:

Central Pivot Point – $60.78
R1 – $62.16
R2 – $63.31
R3 – $64.69
R4 – $66.06

S1 – $59.63
S2 – $58.25
S3 – $57.10
S4 – $55.94