The following is technical analysis on CIT Group, Inc. (CIT) for November 4, 2009CIT Group, Inc. (CIT) support and resistance levels - 11/4/09
Resistance Levels - $0.286, $0.31, $0.55
Support Levels - $0.20
Chart - http://stockcharts.com
Discuss Stocks - http://stockstobuy.org
CIT Group, Inc. (CITGQ.PK) stock tanked after the company filed for bankruptcy protection. The stock was then delisted from the NYSE and now trades on the pink sheets. The following analysis is strictly for trading purposes only....I would not buy buying CIT for long term purposes. I am watching two key resistance levels regarding CIT Group, Inc. These two resistance levels would be Tuesday high of $0.286 & the low from August at $0.32. If CITGQ breaks above these two levels, I plan to jump in for a trade. I would then place my stop loss order at $0.29. This is extremely risky since the company is bankrupt but sometimes these new pink sheets stocks have the tendency to run. As long as CITGQ.PK trades below $0.31, I don't want to own it at all. For More Technical Analysis - Go Here
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
