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Cummins Inc Falls 2.51% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Cummins Inc (NYSE:CMI) traded in a range yesterday that spanned from a low of $142.15 to a high of $145.85. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $142.47 on volume of 286,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Cummins Inc has traded in a range of $124.72 to $194.18 and is now at $142.26, 14% above that low. The 200-day and 50-day moving averages have moved 0.58% lower and 0.11% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Cummins Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cummins Inc in search of a potential trend change.

Keywords: rebounders cummins inc

Ticker(s): CMI