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SmarTrend Watching for Potential Rebound in Shares of Cummins Inc After 1.02% Loss

By Amy Schwartz

Cummins Inc (NYSE:CMI) traded in a range yesterday that spanned from a low of $156.82 to a high of $158.60. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $157.74 on volume of 397,000 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 Inc share prices have been bracketed by a low of $124.40 and a high of $169.45 and are now at $157.16, 26% above that low price. The 200-day and 50-day moving averages have moved 0.11% higher and 0.05% 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