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Cummins Bearish Moving Average Crossover Alert (CMI)

By Shiri Gupta

Cummins (NYSE:CMI) crossed under its 10-day moving average of $116.33 on a volume of 866K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Cummins share prices have been bracketed by a low of $79.88 and a high of $143.40 and are now at $115.48, 45% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.2%.

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 25.6%. 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