Citgroup Inc. (C) Close to Breaching 200 Day MA

After gaining 5.58% on Thursday to $4.18, Citigroup Inc. (NYSE: C) on Thursday, Citigroup has slipped marginally in the in the mid-morning trading to $4.10. Citigroup (C) has moved out of a congestion zone earlier this month after struggling around $3.4 in a symmetrical triangle pattern with 20 day MA and 50 day MA.

Citigroup Inc. is now not far from breaching above its 200 day MA of $4.36, subsequent to which it will move into a breakout zone. Citigroup Inc. (C) has already expressed hopes that it may come out with strong profits following its efforts, by 2012. It is worth going long in the stock.