Since the beginning of November, the relative strength of senior, national US banks has been steadily improving, with several of the top names working their way back up the rankings, including Citigroup (C).
Citigroup spent 2 ½ years stuck in the red zone of the SIA S&P 100 Index Report, from mid-2021 to the end of 2023. Over that time, the shares lost 24.2%, while the S&P 100 Index gained 16.8% over the same period.
As recently as September, Citigroup was close to rock bottom in the relative strength rankings but since November, its relative strength trend has turned positive. Near the end of last year, C climbed up out of the red zone and this year, it has been working its way upward within the Yellow Neutral Zone.
Yesterday, Citigroup climbed another 6 positions to 29th place, 3 spots away from a return to the green zone. Year to date, Citigroup is up 21.0%, while the S&P 100 Index is up 10.1%.
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