Wall Street's longest-running laggard just flipped to one of the cycle’s bank leaders. The stock is up over 70% in the past year, beating out many of the big 6 banks. Today's standout has been quietly setting up for another up-leg.
Citigroup $C is currently exhibiting a Squeeze Score of 96.5.
Here’s what the chart looks like:
Citigroup is coiled just above a key polarity level. Former resistance has now turned into support, and bulls continue to defend the level on every pullback.
Volatility on the Strazza Indicator has compressed into one of its tightest ranges of the past year, signaling a meaningful momentum reset following the sharp advance off the April lows.
Price is now attempting to break back toward the highs. If Financials continue to improve, a move above the recent highs could ignite the next leg higher in one of the strongest stocks of the sector.
