The following is technical analysis on CIT Group, Inc. (CIT) for October 29, 2009CIT Group, Inc. (CIT) support and resistance levels - 10/29/09
Resistance Levels - $1.20, $1.35
Support Levels - $1.10, $1.00
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CIT Group, Inc. (CIT) bounced back over $1 Wednesday after the company announced they secured a $4.5 billion credit facility. The stock is also higher in pre market due to the company rejecting the Carl Ichan offer. I have said all along, I will not get involved with this stock until it trades back over the 50 day moving average ( currently $1.35 ). A close over this level would not only be bullish, it would be a sign that this company is moving in the right direction. Watch the 50 day! For More Technical Analysis - Go Here
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