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After Yesterday's Rally of 1.21% Shares Could Potentially Pullback

By James Quinn

Cummins (NYSE:CMI) traded in a range yesterday that spanned from a low of $158.00 to a high of $161.99. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $161.09 on volume of 597,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Cummins have traded between a low of $79.88 and a high of $163.36 and are now at $161.27, which is 102% above that low price. 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 April 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $151.95. Since that recommendation, shares of Cummins have risen 5.0%. We continue to monitor CMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Cummins

Ticker(s): CMI