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Bearish Moving Average Cross by Cummins (CMI)

By David Diaz

Cummins (NYSE:CMI) crossed under its 10-day moving average of $113.83 on a volume of 231K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Cummins share prices have moved between a 52-week high of $143.40 and a 52-week low of $79.88 and are now trading 41% above that low price at $112.85 per share. The 200-day and 50-day moving averages have moved 0.25% lower and 1.39% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Cummins on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $94.40. Since that recommendation, shares of Cummins have risen 21.1%. We continue to monitor CMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Cummins

Ticker(s): CMI