A sell-side fundamental analyst has downgraded Citicorp (C) but it has been weakening for the past six months. In our last review of C on October 11, we wrote that "Traders could go long C at current levels. You may not get a dip to buy. Risk to $66 for now. Add to longs on strength above $75.21. Our price targets are $86 and then $136 for now."
Let's check out the charts and indicators. 
In this daily bar chart of C, below, we can see that prices fizzled out and turned lower. Traders should be stopped out with a modest loss. C is trading below the declining 50-day moving average line and the cresting 200-day line. There is a bearish dead or death cross at the beginning of November.
The On-Balance-Volume (OBV) line shows a decline from early June telling us that sellers of C have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is bearish and has been making lower highs since March.
In this weekly Japanese candlestick chart of C, below, we see a bearish picture. C is in a downtrend and is trading below the declining 40-week moving average line. The weekly OBV line has been "rolling over" for several months and the MACD oscillator is below the zero line now in sell territory.
In this daily Point and Figure chart of C, below, we can see that prices have reached a downside price target in the $65 area.
In this weekly Point and Figure chart of C, below, we used high/low data and a five box reversal filter. Here we can see that the software is projecting a downside target in the $29 area. Not a pleasant thought.
In this second weekly Point and Figure chart of C, below, we used close only price data for a $42 price target.
Bottom line strategy: The charts and indicators of C are not attractive. The risk is for further declines but I cannot rule out a Santa Claus rally.
