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Watch for Cummins Inc to Potentially Rebound After Falling 1.16% Yesterday

By James Quinn

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.

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.

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. The 200-day and 50-day moving averages have moved 0.28% higher and 0.16% higher over the past week, respectively.

Keywords: rebounders cummins inc

Ticker(s): CMI