07:06 AM EDT, 04/11/2024 (MT Newswires) -- Citigroup ( C ) holds a historical tendency to reward shorts regardless of its direction as it posts Q1 results in the pre-market on Friday, April 12. The stock has a strong tendency to add to any earnings-driven pre-market declines in the follow-on regular session, and if it gains in pre-bell action it consistently reverses direction in bell-to-bell play.

Citi has recorded an earnings-driven pre-market decline in 32 of the last 77 quarters tracked in our MT Pro database. In 21 of those 32 quarters, or about 66% of the time, Citi has added to its downside momentum in the following regular session.

On the plus-side, Citi has recorded an earnings-driven pre-market gain in 45 of the last 77 quarters in our database. In 30 of those 45 quarters, or 67% of the time, Citi has narrowed or reversed its pre-bell gains in the following regular session, still a strong bet on the short side on the heels of a morning pop higher.

Analysts polled by Capital IQ expect Citi to report a Q1 profit of $1.27 per share on revenue of $20.4 billion.

Price: 59.98, Change: -0.2, Percent Change: -0.33