The Greedy Trader Weekly Analysis
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Archive
- 11/2/2018
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CUMMINS INC
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Summary:
Weekly :Oversold sectorBroken trend resistance linePrice is near the Fibonacci 23.6% retracement level
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 3 consecutive negative weeks for the CUMMINS INC (CMI). During the week, the CMI gained 13.06 points, or 10.14%, and closed at 141.83 on Friday, November 02, 2018. Weekly volume was 55% above average.

CMI is a member of Industrial Goods Sector. Industrial Goods is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CMI long-term trend chart]
A long-term downtrend had started on January 29, 2018 at 194.18 and reached 124.72 on October 30, 2018. CMI lost 69.46 points, or 35.77%, in 39 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See CMI medium-term trend chart]
A medium-term downtrend had started on October 9, 2018 at 153.94 and reached 124.72 on October 30, 2018. CMI lost 29.22 points, or 18.98%, in 3 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (120.04) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See CMI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since August 3, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See CMI short-term trend chart]
A short-term uptrend had started on October 30, 2018 at 124.72 and reached 144.72 on November 2, 2018. CMI gained -20.00 points, or -16.04%, in 3 days. The price is now at the 14.45% retracement level.

Daily Technical Indicators: [See CMI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.99
Williams' Percentage Range (W%R) 36.90
Lane's Stochastic (%D-Slow) 63.80
Greed/Fear Indicator (GFI) 56.97
Moving Average Converg./Diverg. (MACD) -2.80
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.15
Williams' Percentage Range (W%R) 36.90
Lane's Stochastic (%D-Slow) 50.53
Greed/Fear Indicator (GFI) 54.51
Moving Average Converg./Diverg. (MACD) -3.46
Trading Signals
Description Value Chart
Upper Bollinger Band 154.29
50 Day Moving Average 143.46
Price 141.83
20 Day Moving Average 140.47
Daily Stochastic Crossing 139.23
Weekly Stochastic Crossing 136.82
Parabolic System 127.97
Monthly Trendline Resistance 126.32
Lower Bollinger Band 124.82
Monthly Trendline Support 120.04
Sector and Industry
Description Name Rank
Sector Industrial Goods 1
Industry Diversified Machinery 104
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 124.72
Low Date 10/30/2018
High 144.72
High Date 11/02/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 124.72
Low Date 10/30/2018
High 144.72
High Date 11/02/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 126.32
Support 120.04
High 153.94
High Date 10/09/2018
Low 124.72
Low Date 10/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 194.18
High Date 01/29/2018
Low 124.72
Low Date 10/30/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4.90
Low Date 10/09/2002
High 194.18
High Date 01/29/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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