• Return to Headlines

Look for Shares of Cummins Inc to Potentially Rebound after Yesterday's 1.34% Sell Off

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.

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.

Over the past year, Cummins Inc has traded in a range of $140.60 to $194.18 and is now at $141.49, 1% above that low. The 200-day and 50-day moving averages have moved 0.08% lower and 0.63% lower over the past week, respectively.

Keywords: rebounders cummins inc

Ticker(s): CMI