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Cit Group Inc Bullish Moving Average Crossover Alert (CIT)

By Amy Schwartz

Today, shares of Cit Group Inc (NYSE:CIT) have crossed bullishly above their 10-day moving average of $49.16 on a volume of 346K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Cit Group Inc share prices have been bracketed by a low of $28.33 and a high of $50.40 and are now at $49.49, 75% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Cit Group Inc on June 12th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.53. Since that recommendation, shares of Cit Group Inc have risen 4.6%. We continue to monitor CIT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses cit group inc

Ticker(s): CIT