The following is technical analysis on CIT Group, Inc. (CIT) for October 26, 2009CIT Group, Inc. (CIT) support and resistance levels - 10/26/09
Resistance Levels - $1.20, $1.37
Support Levels - $1.10, $1.00
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CIT Group, Inc. (CIT) continues to trade over the 10 day moving average which is a positive sign. I personally won't get involved until the stock closes back above it's 50 day moving average resistance level ( $1.37 ). A close over this direction would mean that investors are getting more comfortable holding the stock. On the downside, I would be avoiding CIT Group below $1.00 because of bankruptcy risk. For More Technical Analysis - Go Here
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