Citigroup Inc (C)

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These Stocks Are Looking Good As We Move Into 2024
By: Tom Bowley | December 30, 2023

Throughout 2024, I'll be commenting on various sectors, industry groups, and individual stocks that flash breakouts and relative strength, but what about stocks that are just beginning to strengthen? There are many individual stocks that set 52-week and all-time highs as we ended 2023, but these are two that struggled in 2023 and now appear to be headed for a much stronger year:

Citigroup, Inc. (C):

C broke a similar downtrend during Q4 2023, after trending lower with most banks. Inverted yield curves historically impact banks the strongest as they squeeze banks' net interest margins, which is a key driver in bank earnings. The stock market looks ahead, however, and I believe the expectation of multiple rate cuts in the fed funds rate is helping to drive current outperformance of banks. It's quite likely to continue in 2024. On the C chart, you can see the reversal in its downtrend rather clearly:



In addition to the more favorable price chart, C also boasts a strong 4.04% dividend yield, providing another solid income option for that style of investor. Any additional capital appreciation would be icing on the cake.

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