CIT Group Falling After Opening High

CIT Group Inc. CIT shares are trading higher by $0.08 at $36.48 in Friday's session. The issue was able to shrug off a Stifel Nicolaus downgraded from Buy to Hold with a higher open.

However, it rallied only another $0.22 to $37.98 before reversing course. That high coincides with its January 7 high of $37.96.

The ensuing decline has taken to the issue to $36.48, which currently stands as the low for the day. If the issue doesn't find support at Thursday's closing price of $36.40, Thursday's low doesn't come in until $35.87.