Citigroup: Above $70 Is Doable But A Pullback Is Imminent

8/14/17

For those who might have missed the earnings report for Citigroup, Inc. (NYSE:C), the company beat its estimates for Q2 and has sold off slightly since then.

In this article, we'll have a look at the charts to determine where the stock might go in the event of a fundamental event such as economic growth, Fed hikes, and loan or deposit growth, to name a few.

Q2 Earnings Recap

Citigroup beat its earnings estimates by 7 cents and beat revenue estimates by $530M. Net interest income rose to $11.16B from $10.85B in Q1 according to its income statement. However, the net income number of $3.9B was 3% lower than analysts' expectations and was primarily due to higher operating expenses.

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