(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
CIT Group is Setting Up for a Big Move
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