CIT Group Technical Analysis (NYSE:CIT)
Technical chart patterns are studied in depth by people who strongly believe in technical analysis. These type of investors who look at trading charts or technical stock charts are usually traders rather than value investors. When a chart pattern that can predict future CIT Group stock price movements is formed, the CIT stock chart can become a key tool for a technical analyst.
See CIT Group bollinger bands, SMA (200 day moving average, 50 day moving average) and exponential moving averages. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of CIT Group stock analysis.
CIT Group Moving Average:
Moving averages help predict the price direction of CIT stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $47.62 is above the price of $46.03.
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 over brought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. The stock price is trading between the average and the lower band in the context of CIT Group bollinger bands.
CIT Group Moving Average Convergence Divergence or MACD:
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. 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. 21.05 is the RSI value of CIT stock. .