Today’s instrument is Citigroup Inc., one of the holdings of Warren Buffet, traded in the NYSE exchange under the ticker C. 

Looking at C’s chart, we can see that it has been in a downtrend, dropping from the level of around $51.30 to the current level of around $42.96.

Today it is announcing its quarterly earnings and if the market’s anticipation is positive, then we should expect it to rise toward its resistance level at around $44.60 and if it will manage to pass it then it could rise towards its next resistance level at around $47. On the other hand, if the market’s anticipation is negative on the results, then it could fall toward its support level at around $41.60-41.80.

(Click on image to enlarge)

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