Cummins Crosses Above its 10-day MA (CMI)
Cummins (NYSE:CMI) crossed over its 10-day moving average of $115.71 on a volume of 240K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Over the past year, Cummins has traded in a range of $79.88 to $143.40 and is now at $116.30, 46% above that low. The 200-day and 50-day moving averages have moved 0.2% lower and 1.05% 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 21.7%. We continue to monitor CMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Cummins