Cummins Crosses Below its 10-day MA (CMI)
Cummins (NYSE:CMI) shares have crossed bearishly below their 10-day moving average of $126.38 on a volume of 281K 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.
Over the past year, Cummins has traded in a range of $79.88 to $143.40 and is now at $125.90, 58% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.4%.
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 7.5%. We continue to monitor CMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Cummins