City Group’s stock price showed slight gains intraday, buoyed by favorable RSI signals and encountering resistance at the 50-day Simple Moving Average (SMA). This comes amidst a prevailing downward correctional wave in the short term, exacerbated by a recent breach of the upward medium-term trend line, with the RSI signaling overbought conditions.
Given these factors, analysts anticipate a downward movement with a target towards the crucial support level of $56.75, contingent upon the resistance at $63.90 holding firm.
Trend Outlook: Bearish