CIT is looking soooo perfect! After waiting patiently for almost the entire trading day, CIT is now on the verge of triggering. I am waiting patiently to see what happens. Here is a look at CIT and one of my favorite set-ups. The yellow lines show the entry and stop loss levels:
I am looking to go long on a move through $36.00 with a stop loss just below support ($35.00). That is, I will be risking about a $1.00 per share. This stock could easily get to $50.00+ over time for a 14R+ ($50.00 - $36.00) trade!
Always hope for the best but plan for the worst!!!