CIT Group Technical Analysis (NYSE:CIT)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the CIT Group stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the CIT stock chart which creates a trading signal.
See CIT Group bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis uses an approach for CIT Group stock analysis that does not care for the fair value of a company but uses price and volume data only.
CIT Group Moving Average
Moving averages show the CIT stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. The 20 day moving average of $51.25 is below the last closing price of $51.35 and the 50 day moving average of $52.49 is above the last closing price of $51.35. The 10 and 20 day periods can predict short term moving average trends.
CIT Group Bollinger Bands
Bollinger bands comprise of a center line usually CIT SMA, and two CIT stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Currently the stock price of $51.35 is in the upper range of CIT Group bollinger bands.
CIT Group Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The CIT Group MACD indicator can be used to identify bullish and bearish trends for the stock.
CIT Group Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. 49.5 is the RSI value of CIT stock.