Thursday, May 24, 2018 12:04:57 PM
CIT Group Inc (NYSE:CIT) is a leading provider of financing, leasing and advisory services to middle market companies in a range of industries in North America. Today, the stock is falling lower by $2.42 to $52.82 a share. This decline breaks the recent uptrend in CIT stock. Very often, sharp declines like this will lead to further downside in the near term. Traders should note that the stock has support around the 200-day moving average which is currently around the $50.00 area. Unfortunately, CIT stock trades less than a million shares a day on average, this tells me that we have to compensate for overshoot and look lower. The next major support level for CIT would be around the $48.00 area. This level is where the stock broke out in November 2017 and should be solid support when retested.
Nicholas Santiago
InTheMoneyStocks
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM