CIT Group is Setting Up for a Big Move

imageStock Markets20 minutes ago (Jul 02, 2021 10:30AM ET)

(C) Reuters. CIT Group is Setting Up for a Big Move

A rectangle pattern has formed in the chart of CIT Group, Inc. (NYSE:CIT). This means that CIT is trading in a sideways range and that there is currently a level of support and a level resistance at key levels. If these levels are surpassed, a trader could a breakout or breakdown.CIT Group, Inc. (CIT) is a financial holding company, which provides financing, leasing and advisory services. It operates through the following business segments: Commercial Banking, Consumer Banking and Corporate.

Take a look at the 1-year chart of CIT below with added notations:

Chart of CIT provided by TradingView

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CIT Group is Setting Up for a Big Move

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