CIT Group Inc (DEL) (CIT) : Traders are bullish on CIT Group Inc (DEL) (CIT) as it has outperformed the S&P 500 by a wide margin of 3.64% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.94%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.45% in the last 1 week, and is up 3.5% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 2.15% and the 50-Day Moving Average is 6.98%.The 200 Day SMA reached 7.66%. CIT Group Inc. is up 6.06% in the last 3-month period. Year-to-Date the stock performance stands at -7.03%.
CIT Group Inc (DEL) (NYSE:CIT): After opening at $36.47, the stock dipped to an intraday low of $36.18 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $36.68 and the buying power remained strong till the end. The stock closed at $36.38 for the day, a gain of 0.28% for the day session. The total traded volume was 660,046. The stocks close on the previous trading day was $36.28.
CIT Group Inc. is a bank holding company (BHC), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.