Markets

Here’s A Quick Technical Analysis Of Citizens Financial Group, Inc. (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) gained 1.53% in yesterday’s session, going up from its prior closing price of $36.57 to $37.13 The stock price went upward in 6 of the last 10 days and has generated 2.37% during the last two weeks. Trading activity decreased by -6.65 million shares, and in total, 4.74 M shares exchanged hands for about $176.06 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.

Inside CFG’s Recent Trend

Citizens Financial Group, Inc. (CFG) is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $37.87 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Citizens Financial Group Inc with 90% probability for the price to range between $32.03 and $37.82 in this timeframe. Investors sometime notices large volume spikes after a breaking of the horizontal base, and stocks rarely experience a roller coaster ride from the bottom of a trend. Stocks jumping at a middle end of a horizontal base are therefore followed in search of a potential runner.

Citizens Financial Group, Inc. Technical Signals



CFG has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $37.13. On a drop, the stock is likely to find some support over the long run, which begins at $34.75. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal. Its pivot point low generated buy signal on Wednesday October 04, 2017, which calls for additional surge until the stock forms a new pivot point high. There was a decrease in volume but the price rose. This is usually not interpreted as a good sign as traders widely believe falling volume should see declining stock. Investors should be watching the price action like a hawk in the coming sessions.

Citizens Financial Group, Inc. (NYSE:CFG) Support And Resistance Levels

Citizens Financial Group, Inc. (CFG) recorded volume accumulation so there will probably be a surplus of buyers at $36.57. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $37.22 and $37.87.




Accumulated volume is going to prevent the price from rising further at $37.22 and this action will lead the price to take a temporary pause or stay muted for a few days.

Citizens Financial Group, Inc. (CFG) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.86 between high and low, or 2.36%. The average volatility for the past week stood at 2.16%.

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