The Hourly View for CIT
At the time of this writing, CIT (Get Ratings)’s price is up $0.54 (1.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Out of Banking stocks, CIT ranks 155th in regards to today’s price percentage change.
CIT’s Technical Outlook on the Daily Chart
Currently, CIT’s price is down $-0.44 (-0.82%) from the day prior. This move is a reversal from the day prior, which saw price move up. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Cit Group Inc’s price action over the past 90 days can be seen via the chart below.
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