Citigroup Stock Testing Resistance After Upbeat Quarter

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Citigroup Inc. (C) stock was trading marginally higher in Monday’s pre-market session after the banking giant beat first quarter earnings per share (EPS) estimates by eight cents and met revenue expectations at $18.58 billion. A 1.6% decline in year-over-year revenues and a steep downturn in equity income marred the otherwise benign confessional, keeping committed buyers on the sidelines into the opening bell.

The financial behemoth carved a strong recovery wave off December’s two-year low in the upper $40s in January and stalled at resistance in the mid-$60s, generated by the 200-day exponential moving average (EMA) and fourth quarter breakdown through the second quarter low at $64.38. It mounted that barrier by a few points ahead of the news


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