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Watch for Cummins Inc to Potentially Rebound After Falling 2.57% Yesterday

By James Quinn

Cummins Inc (NYSE:CMI) traded in a range yesterday that spanned from a low of $176.50 to a high of $178.70. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $181.10 on volume of 102,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Cummins Inc has traded in a range of $124.40 to $186.62 and is now at $176.60, 42% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 0.48% higher over the past week, respectively.

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

Keywords: rebounders cummins inc

Ticker(s): CMI