The earning season is back in full swing with a tightly scheduled week ahead, which is reserved primarily for big financial and banking institutions, and the first in line is Citigroup reporting before the market open on Monday.
The general expectation is for Citigroup to report earnings of $1.78 per share, which if realised, would beat last year's performance for the same quarter when the reported EPS was $1.62.
A possibly reported EPS of $1.78 would measure a 0.09 cents slide compared to the company's performance of $1.87 from Q1; however, it would still be enough to extend the currently ongoing trend of final results beating the initial estimations, which has been going on for more than a year now.
The stock price of the company has been consolidating just below the fundamentally important resistance level of 72.00, which has remained unbroken since October last year. Thus, if the earnings report turns out overwhelmingly positive the price might finally get that boost it needs to break out above the resistance and head towards the next target level. If, however, the report delivers surprising results and the EPS falls below $1.78, that might cause the share price to tumble back below 70.00.
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