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Cummins Inc Falls 1.34% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Cummins Inc (NYSE:CMI) traded in a range yesterday that spanned from a low of $141.31 to a high of $143.46. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $142.29 on volume of 569,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Cummins Inc share prices have moved between a 52-week high of $194.18 and a 52-week low of $140.60 and are now trading 1% above that low price at $141.49 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cummins Inc on May 1st, 2018 by issuing a Downtrend alert when the shares were trading at $152.05. Since that call, shares of Cummins Inc have fallen 5.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders cummins inc

Ticker(s): CMI