The following is technical analysis on CIT Group, Inc. (CIT) for November 2, 2009CIT Group, Inc. (CIT) support and resistance levels - 11/2/09
Resistance Levels - $1.00, $1.05, $1.33
Support Levels - $0.67, $0.31
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CIT Group, Inc. (CIT) tanked again Friday as the fear of a prepackaged bankruptcy was the topic of discussion going into the weekend. As I have been saying over the past two months, I would be avoiding this stock under the 50 day moving average and $1.00. If CIT would close above $1.33, I'd think about buying the stock. No news yet on any bankruptcy....news could come as early as Sunday or Monday. CIT would be expected to emerge within 2 months. For More Technical Analysis - Go Here
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