The following is technical analysis on CIT Group, Inc. (CIT) for October 19, 2009CIT Group, Inc. (CIT) support and resistance levels - 10/19/09
Resistance Levels - $1.20, $1.40
Support Levels - $1.10, $1.00
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CIT Group, Inc. (CIT) continues to close over the 10 day moving average. There is major resistance around the $1.20 level, a close over this area would be one step in the right direction.However, for me personally, I would only buy CIT after it closed over the 50 day moving average ( currently $1.40 ). A close over the 50 day moving average would be a sign of investors taking risk in the stock and that things could be getting better in the company. I would be avoiding the stock altogether if it closed back below $1.00. For More Technical Analysis - Go Here
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