Citigroup (C) is breaking its late May/early June low. This means that unless you went long C at the March lows or back in January or December, you probably have a loss in your account.
This puts the charts in a precious position in my opinion. As losses build it pressures people to sell.
In this daily bar chart of C, below, we can see the rapid decline of this month. Prices are below the still rising 50-day moving average line but below the declining 200-day line.
The On-Balance-Volume (OBV) line has been weakening since April telling us that sellers of C have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator is below the zero line at a new low for the move down - another bearish clue.
In this weekly bar chart of C, below, we have prices below the flat 40-week moving average line.
The weekly OBV line has turned lower and the MACD oscillator on this longer time frame has crossed to the downside for a take profits sell signal.
In this Point and Figure chart of C, below, we can see a downside price target of $56. $56 breaks a number of prior price lows so it may not represent a support area and further declines are possible.
Bottom line strategy: While C is no longer part of the DJIA it still is a large company that many investors track. A breakdown on the charts of C will likely aggravate the current decline.