CIT Group Inc (DEL)(CIT) is in an downtrend

(28-Mar-2008) (28-Mar-2008) CIT Group Inc (DEL)(CIT) closed at 11.33, down -0.52 or -4.39 % today. Based on our analysis, CIT Group Inc (DEL)(CIT) is in an downtrend.

The closing price of CIT Group Inc (DEL)(CIT) is below its 50 day moving average of 21.32 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that CIT Group Inc (DEL)(CIT) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 11-Feb-2008, about 33 trading days ago.