CIT Group CIT Stock Analysis - 10/15/09

The following is technical analysis on CIT Group, Inc. (CIT) for October 15, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/15/09

Resistance Levels - $1.20, $1.41

Support Levels - $1.00

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CIT Group, Inc. (CIT) is back trading above $1 after it appears they will get some loans. I am watching the 10 day moving average because in order for me to trade this stock, it must be above the 10 day moving average. The stock hasn't closed over this level since hitting the high of $2.22. I think you could see a nice rally just on the technicals alone.

As for resistance, keep an eye on $1.20 and the 50 day moving average located at $1.41. On the downside, I would avoid CIT under $1.00. For More Technical Analysis - Go Here

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