Citi Group Inc. Technical Analysis – 08 September 2022
08 Sep 2022
CITI GROUP INC.: NEWS & Technical Analysis
Citigroup hires three for the China securities business
Citigroup (NYSE:C) has hired three bankers for its planned China securities business, according to a person familiar with the matter.
It hired Kenneth Koo as the firm’s chief executive, Rochelle Wei from JPMorgan (NYSE: JPM) to lead its futures unit, and John Lu to head the onshore equities business, the source said.
Citigroup declined to comment.
Koo and Lu did not immediately respond to a request for comment sent on LinkedIn. Wei did not immediately respond to an emailed request for comment.
Koo was previously Citigroup’s chief representative in its mainland joint venture with Orient Securities that ended in 2019.
Bloomberg News first reported the new appointments on Thursday.
Last year, Citigroup applied for a mainland Chinese securities license as part of its push to ramp up business in the market.
CITI GROUP INC. Technical Analysis: Daily Chart
In the daily charts, CITI GROUP INC. is trading in down channel. CITI GROUP INC. is currently trading below all SMA.
RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 47.35 & the resistance level is at 49.47.
CITI GROUP INC. will trade in down channel until there is trend reversal.
How to Trade CITI GROUP INC. this Week:
CITI GROUP INC. will follow the downtrend until their trend reversal. So, remain bearish on CITI GROUP INC..