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Cummins Inc Set to Possibly Rebound After Yesterday's Selloff of 1.16%

By Amy Schwartz

Cummins Inc (NYSE:CMI) traded in a range yesterday that spanned from a low of $166.06 to a high of $168.86. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $168.89 on volume of 301,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Cummins Inc have traded between a low of $124.40 and a high of $173.77 and are now at $168.05, which is 35% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.2%.

SmarTrend recommended that subscribers consider buying shares of Cummins Inc on June 10th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $163.64. Since that recommendation, shares of Cummins Inc have risen 4.0%. We continue to monitor CMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders cummins inc

Ticker(s): CMI