Citigroup shares gain the most in a week on Thursday, holding’s second-quarter trading revenue “in line” with competitor results

According to a statement at an investor conference on June 1st by Mike Corbat, Citigroup Incs (C) Chief Executive Officer, the holdings second-quarter revenue from trading operations was “in line” with recent results by its competitors. Further details are to be provided at a presentation later in June.

Citigroup shares registered their largest daily surge since May 24th during the trading session on Thursday. The stock went up 0.89% ($0.54) to $61.08, with the intraday high and the intraday low being at $61.09 and $60.17 respectively. In the week ended on May 28th the shares of the financial group added 1.59% to their market value compared to a week ago, which marked a fifth consecutive period of gains and also the best performance since the week ended on May 7th. The stock has gained 0.89% so far during the current month, following a 2.40% surge in May. The latter has been the best monthly performance since February. For the entire past year, the shares of the NYSE-listed financial holding company gained 14.84%.

Meanwhile, at conferences on May 31st, executives of JPMorgan Chase, Bank of America and Goldman Sachs announced a year-on-year drop in trading revenue as a result of lower volatility and lower activity of their clients.

Bank of America described a slump in its trading revenue of 10%-to-12% during the quarter, while JPMorgan – a drop of about 15%.

According to CNN Money, the 26 analysts, offering 12-month forecasts regarding Citigroup Inc’s stock price, have a median target of $66.50, with a high estimate of $78.00 and a low estimate of $53.00. The median estimate is an 8.87% surge compared to the closing price of $61.08 on June 1st.

The same media also reported that 13 out of 29 surveyed investment analysts had rated Citigroup Inc’s stock as “Buy”, while 8 – as “Hold”. On the other hand, 3 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Citigroup stock are presented as follows:

R1 – $61.16
R2 – $61.25
R3 (Range Resistance – Sell) – $61.33
R4 (Long Breakout) – $61.59
R5 (Breakout Target 1) – $61.88
R6 (Breakout Target 2) – $62.01

S1 – $61.00
S2 – $60.91
S3 (Range Support – Buy) – $60.83
S4 (Short Breakout) – $60.57
S5 (Breakout Target 1) – $60.28
S6 (Breakout Target 2) – $60.15

By using the traditional method of calculation, the weekly levels of importance for Citigroup Inc (C) are presented as follows:

Central Pivot Point – $61.83
R1 – $62.93
R2 – $63.80
R3 – $64.90
R4 – $66.01

S1 – $60.96
S2 – $59.86
S3 – $58.99
S4 – $58.13