The following is technical analysis on CIT Group, Inc. (CIT) for October 5, 2009CIT Group, Inc. (CIT) support and resistance levels - 10/5/09
Resistance Levels - $1.37, $1.55
Support Levels - $1.10, $1.00
Discuss Stocks - http://stockstobuy.org
I was asked to do a chart on CIT Group, Inc. (CIT) so here it goes. This is a stock that I have been avoiding for sometime now. From the recent news, it sounds like this company isn't going to last to long on its own. You can trade any stock as long as you have an exit plan. If CIT closed below $1.00 at any point in the future, I would be a seller. As for now, I'd be watching the 50 & 10 day moving averages. If CIT can close back above those two averages, someone is getting back into the stock and it has a chance. I would only be a buyer of CIT if it closes back above the 200 day moving average at $2.49. This would tell me someone is getting back in and the chances of survival are a lot higher.
For More Technical Analysis - Go Here
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
