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Look for Shares of Cummins Inc to Potentially Rebound after Yesterday's 1.19% Sell Off

By David Diaz

Cummins Inc (NYSE:CMI) traded in a range yesterday that spanned from a low of $161.64 to a high of $164.36. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $162.17 on volume of 372,000 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 $169.45 and a 52-week low of $124.40 and are now trading 30% above that low price at $162.24 per share. The 200-day and 50-day moving averages have moved 0.27% higher and 0.21% 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