Is It Time To Buy Citigroup Stock?

Shares of Citigroup Inc. C have been getting pummeled. At the beginning of the month, they were trading around $80 and now they're trading around $70.

But they're oversold and at support, which means there’s a chance they stage some kind of rebound.

There was resistance at the $69 level in January. Then the level converted into support. This is where C found a bottom in March and April. Both of those times were followed by a rebound.

There’s a chance they rebound again off of this important level, but if they don’t and the support breaks, a rapid and large move lower may follow.