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SmarTrend Watching for Potential Rebound in Shares of Cummins After 1.04% Loss

By Amy Schwartz

Cummins (NYSE:CMI) traded in a range yesterday that spanned from a low of $150.07 to a high of $152.42. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $153.24 on volume of 667,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Cummins share prices have been bracketed by a low of $79.88 and a high of $163.36 and are now at $151.32, 89% above that low price. The 200-day and 50-day moving averages have moved 0.25% lower and 1.39% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Cummins and will alert subscribers who have CMI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Cummins

Ticker(s): CMI