Citigroup announced on Tuesday that it had launched Citi Virtual Accounts, a new global solution which will allow for the segregation of client balances under one physical account.
Citigroup shares closed lower for a third consecutive trading session in New York on Tuesday. The stock went down 0.45% ($0.33) to $73.51, with the intraday high and the intraday low being at $74.53 and $73.47 respectively.
Shares of Citigroup Inc have retreated 1.21% so far in 2018 compared with a 9.05% gain for the underlying index, S&P 500 (SPX).
In 2017, Citigroup’s stock surged 25.21%, thus, it outperformed the S&P 500, which registered a 19.42% return.
Currently available for Citi customers in Western Europe and covering 16 markets and 37 currencies, the solution will also be offered in the United States and Asia at a later stage, the Wall Street bank said.
“Citi’s virtual account solution is designed to be fully adaptable to our clients needs, allowing treasurers to tailor banking structures to their unique requirements. With a centralized view of real-time cash positions, corporate treasuries can optimize liquidity management and make more informed funding decisions,” Mark Smith, Global Head of Liquidity Management Services, Treasury and Trade Solutions, was quoted as saying in a Citi press release.
“Citi’s virtual account solution is a strategic enabler for corporate treasuries of both our traditional and digital clients, providing a platform for benefits such as bank account rationalization and automated reconciliation,” Manish Kohli, Global Head of Payments and Receivables, Treasury and Trade Solutions, said.
The new solution makes it possible for Citi customers to individually check transaction activity, to generate virtual account statements as well as to manage on-line banking entitlements.
According to CNN Money, the 26 analysts, offering 12-month forecasts regarding Citigroup Inc’s stock price, have a median target of $83.75, with a high estimate of $101.00 and a low estimate of $62.00. The median estimate represents a 13.93% upside compared to the closing price of $73.51 on September 25th.
The same media also reported that 15 out of 29 surveyed investment analysts had rated Citigroup Inc’s stock as “Buy”, while 9 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.
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 – $73.61
R2 – $73.70
R3 (Range Resistance – Sell) – $73.80
R4 (Long Breakout) – $74.09
R5 (Breakout Target 1) – $74.43
R6 (Breakout Target 2) – $74.57
S1 – $73.41
S2 – $73.32
S3 (Range Support – Buy) – $73.22
S4 (Short Breakout) – $72.93
S5 (Breakout Target 1) – $72.59
S6 (Breakout Target 2) – $72.45
By using the traditional method of calculation, the weekly levels of importance for Citigroup Inc (C) are presented as follows:
Central Pivot Point – $73.26
R1 – $76.13
R2 – $78.10
R3 – $80.97
R4 – $83.83
S1 – $71.29
S2 – $68.42
S3 – $66.45
S4 – $64.47
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