CITIGROUP MISSES Q4 REVENUE EXPECTATIONS, STOCK FALLS
In the Premarket trading session on Monday, Citigroup’s stock was trading at 56.20- lower by 0.86% as compared to its previous close.
Citigroup posted Q4 revenue that missed market expectations as bond trading revenue declined amid a difficult December for markets. The bank produced $17.1 billion in firm-wide revenue, below the market expectations of $17.6 billion. Citigroup made $1.61 in profit per share excluding the one-time impact of the U.S. tax overhaul, beating the consensus estimates for $1.55 on better-than-expected cuts in expenses and loan losses.
On the technical front, the current price is above the MA5 (56.16) and MA20 (53.65). The current price is above the middle line of the Bollinger Bands but is heading downwards. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 56.50 TAKE PROFIT AT 55.80 STOP LOSS AT 56.90