Cummins Crosses Below its 10-day MA (CMI)
Cummins (NYSE:CMI) shares have crossed bearishly below their 10-day moving average of $120.43 on a volume of 1.0 million 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 50% above that low price at $119.70 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.2%.
SmarTrend recommended that subscribers consider buying shares of Cummins on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.72. Since that recommendation, shares of Cummins have risen 3.5%. We continue to monitor CMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Cummins