CIT Group CITGQ Stock Analysis - Update

The following is technical analysis on CIT Group, Inc. (CIT) for November 23, 2009

CIT Group, Inc. (CIT) support and resistance levels - 11/23/09

Resistance Levels - $0.23, $0.257, $0.286

Support Levels - $0.15

Chart - http://stockcharts.com

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CIT Group, Inc. (CITGQ.PK) continues to trade below the 10 day moving average and has failed to make a higher higher high since trading on the pink sheets. The stock could catch fire if it breaks above $0.23 & $0.257. I would be willing to buy the stock for a trade if it closed above $0.286. For More Technical Analysis - Go Here

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CIT Group CITGQ Stock Analysis

The following is technical analysis on CIT Group, Inc. (CIT) for November 4, 2009

CIT 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

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CIT Group Inc Delisted, CITGQ.PK New Symbol

November 3, 2009 - Shares of CIT Group Inc (CIT) will be trading under a new stock symbol after the NYSE delisted the stock yesterday.

CIT Group will be trading on the pink sheets under the new symbol CITGQ or CITGQ.PK.

CIT Group Inc (CITGQ.PK) is set to open at yesterday's close which was $0.25. Usually after a stock gets delisted, shares are very volatile 1-2 weeks afterward.

I will have more analysis tonight but first I need to see how the stock trades today. There will be resistance at $0.30 & $0.37 for starters.


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CIT Group CIT Stock Analysis - Bankrupt?

The following is technical analysis on CIT Group, Inc. (CIT) for November 2, 2009

CIT Group, Inc. (CIT) support and resistance levels - 11/2/09

Resistance Levels - $1.00, $1.05, $1.33

Support Levels - $0.67, $0.31

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

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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CIT Group CIT Stock Technical Analysis

The following is technical analysis on CIT Group, Inc. (CIT) for October 29, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/29/09

Resistance Levels - $1.20, $1.35

Support Levels - $1.10, $1.00

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

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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CIT Group CIT Stock Analysis

The following is technical analysis on CIT Group, Inc. (CIT) for October 26, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/26/09

Resistance Levels - $1.20, $1.37

Support Levels - $1.10, $1.00

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

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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CIT Group CIT Stock Technical Analysis

The following is technical analysis on CIT Group, Inc. (CIT) for October 20, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/20/09

Resistance Levels - $1.39

Support Levels - $1.11, $1.00

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

CIT Group, Inc. (CIT) received some positive news on Monday that Carl Ichan might be underwriting a 6 billion dollar loan for the company. The stock spiked back to the 50 day moving average but then sold off throughout the day. As I have said before, I will not trade this stock until it gets above the 50 day moving average because it is so risky. So with that said, I will be watching $1.40 very closely and if CIT breaks up through this level, I plan to jump in for a quick trade. Until then, support is located at $1.11 which is the 10 day moving average. For More Technical Analysis - Go Here

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CIT Group CIT Stock Analysis - 10/19/09

The following is technical analysis on CIT Group, Inc. (CIT) for October 19, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/19/09

Resistance Levels - $1.20, $1.40

Support Levels - $1.10, $1.00

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

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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CIT Group CIT Stock Analysis - 10/15/09

The following is technical analysis on CIT Group, Inc. (CIT) for October 15, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/15/09

Resistance Levels - $1.20, $1.41

Support Levels - $1.00

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

CIT Group, Inc. (CIT) is back trading above $1 after it appears they will get some loans. I am watching the 10 day moving average because in order for me to trade this stock, it must be above the 10 day moving average. The stock hasn't closed over this level since hitting the high of $2.22. I think you could see a nice rally just on the technicals alone.

As for resistance, keep an eye on $1.20 and the 50 day moving average located at $1.41. On the downside, I would avoid CIT under $1.00. For More Technical Analysis - Go Here

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CIT Group CIT Stock Analysis October 2009

The following is technical analysis on CIT Group, Inc. (CIT) for October 7, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/7/09

Resistance Levels - $1.39, $1.45

Support Levels - $1.10, $1.00

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

CIT Group, Inc. (CIT) continues to hold $1.00. From the recent news, it sounds like this company isn't going to last to long on its own. You can trade any stock as long as you have an exit plan. If CIT closed below $1.00 at any point in the future, I would be a seller. As for now, I'd be watching the 50 & 10 day moving averages. If CIT can close back above those two averages, someone is getting back into the stock and it has a chance. I would only be a buyer of CIT if it closes back above the 200 day moving average at $2.45. This would tell me someone is getting back in and the chances of survival are a lot higher. For More Technical Analysis - Go Here

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CIT Group CIT Stock Analysis October 2009

The following is technical analysis on CIT Group, Inc. (CIT) for October 5, 2009

CIT Group, Inc. (CIT) support and resistance levels - 10/5/09

Resistance Levels - $1.37, $1.55

Support Levels - $1.10, $1.00

Chart - http://stockcharts.com

Discuss Stocks - http://stockstobuy.org

I was asked to do a chart on CIT Group, Inc. (CIT) so here it goes. This is a stock that I have been avoiding for sometime now. From the recent news, it sounds like this company isn't going to last to long on its own. You can trade any stock as long as you have an exit plan. If CIT closed below $1.00 at any point in the future, I would be a seller. As for now, I'd be watching the 50 & 10 day moving averages. If CIT can close back above those two averages, someone is getting back into the stock and it has a chance. I would only be a buyer of CIT if it closes back above the 200 day moving average at $2.49. This would tell me someone is getting back in and the chances of survival are a lot higher.

For More Technical Analysis - Go Here

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CIT Group and IndyMac to Merge?

September 29, 2009 - Shares of CIT Group, Inc. (CIT) are exploding in pre market this morning on the rumor that CIT and IndyMac could potentially merge. CIT Group, Inc. ( CIT ) stock is Up 23% to $2.05.

Looking at the chart, CIT is breaking above the $1.84 & $1.86 highs from the past three months. The next major resistance area I see would be between $2.25-$2.50

CIT Merger Article



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CIT Group CIT Stock Halted 7/15/09 July 15, 2009

July 15, 2009 - Shares of CIT Group ( CIT ) have just been halted with news pending.

At 3:18pm EST - CIT was halted with the last trade being at $1.64

We will have the news right here when it is released!

Debate going on about whether or not they should have access to the FDIC programs


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CIT Group ( CIT ) Receiving Government Aid?

July 14, 2009 - Shares of CIT Group, Inc. (CIT) are on fire tonight in afterhours as the Wall Street Journal is reporting that the Government might come in and offer some kind of aid for the company.

After trading over 200 million shares in regular trading today, CIT stock is up 21% in after hours to $1.63 on the news.

For Tuesday, 7/14/09, keep an eye on $1.88 which is the 10 day moving average.



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