CIT Group Inc (CIT) “On a long-term technical basis, the stock (CIT) is trading above its 200-day moving average which generally implies it is in a positive trend.

The stock has support at 24.87 and 22.36. If the stock breaks down through support at 24.87 then it will probably continue lower to 22.36. The stock has resistance at 29.73 and at 49.00. If the stock breaks up through resistance at 29.73 then it will probably continue higher to 49.00. The 200-day moving average is at 24.87. This will also act as support. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 24.87 look for a rally to previous highs. The stock is extremely overbought according to the Stochastic Indicator (80.70), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”