CIT Group Inc (CIT) Stock Technical Analysis
NYSE:CIT - New York Stock Exchange, Inc. - Common Stock
Taking everything into account, CIT scores 6 out of 10 in our technical rating. CIT has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
CIT is part of the Banks industry. There are 395 other stocks in this industry. CIT outperforms 72% of them.
CIT is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so CIT is performing more or less in line with the market.
In the last month CIT has a been trading in the 45.95 - 54.33 range, which is quite wide. It is currently trading near the high of this range.
CIT has an average volume of 1362840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that CIT is one of the better performing stocks in the market, outperforming 84% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
Volume is considerably higher in the last couple of days.
CIT has an average technical rating and also the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
45.21
56.74
We found 3 important support areas.
- A support zone ranging from 50.17 to 51.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 47.15 to 47.71. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 45.67 to 46.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 53.71 to 55.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @56.18 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CIT is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CIT is neutral. |
| ChartMill Relative Strength | 84.16 | POSITIVE | CIT has a high relative strength, it outperformed 84.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CIT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CIT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CIT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.94 | NEUTRAL | The RSI value for CIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests CIT has a positive trend. |
| Stochastics (14,3) | 70.48 | NEUTRAL | The Stochastics value for CIT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.39 | MEDIUM VOLATILITY | The ATR as a percentage value for CIT suggests some volalility. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
53.5
+2.16 (+4.21%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg4.21%
1 Week0.34%
2 Weeks15.53%
1 Month12.04%
3 Month0.91%
6 Month11.07%
12 Month36.72%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.92
ATR(20)%3.39%
ATR Inc40.55%
Range Today2.97
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS84.16
Mansfield-0.46
10 Day High54.33
10 Day Low48.24
20 Day High54.33
20 Day Low45.95
52 Week High56.62
52 Week Low35.56
CS1 End51.01
CR1 Start53.71
Volume & EV
DER(3)-1.46%
DER(5)-0.48%
Volume32.81M
Volume Incr1142.68%
Vol(5)8.19M
Vol(50)1.36M