Citigroup Inc. (C) Shares Active after Upgrade at Morgan Stanley

Citigroup Inc. (NYSE: C) shares rose in value Wednesday Nov 30 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.

The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.

The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.

Analysts at Morgan Stanley upgraded shares of Citigroup Inc. (NYSE: C) from Equal Weight to Overweight today. With a rating of Overweight on the stock, the company has a 52-week high of $56.83. A number of other analysts have commented on the stock in recent days, and Citigroup Inc. has secured a consensus one-year price target of $58.22, above the opening price of $56.23, a difference of 10.32 percent. Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.

Citigroup Inc. (NYSE: C) shares last traded at $56.42, an increase of $0.90 or 1.62% compared to the previous closing price. Opening at $56.23, they ranged from $56.06 and $56.60 throughout the day.

Citigroup Inc. (NYSE: C) now has a market cap of 160.78B.

Citigroup Inc. (NYSE: C) Average Daily Trading Volume

The stock’s average daily volume is 20,191,500 shares out of a total float 2,845,854,000 and some 4,484,332 shares crossed the trading desk yesterday, below the norm. Swing traders often use upticks in trading volume to identify heavy volume accumulation or circulation by institutional investors, so trading volume is likely to increase in the next few days.

As with all possible breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.

Citigroup Inc. (NYSE: C) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.

Trades for Citigroup Inc. (NYSE: C) have ranged from $34.52 – 56.83, and the stock now has a 50-day MA of $51.32 and 200-day MA of $46.71. Today’s last price is 0.72%% below the 52 week high of $56.83.

Earnings growth is a crucial factor to look at when investing in stocks and investors look for companies that have increased their earnings at least 25% or more for 3 consecutive years.

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