The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Ascending Wedge
Number of records: 10
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Chart Analysis and Chart Pattern Recognition – Broadening Formations
Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation Pattern appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.
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CUMMINS INC (CMI)

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Summary:
Weekly :
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageLane's Stochastic is oversold
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It was the negative week for the CUMMINS INC (CMI). During the week, the CMI dropped -5.38 points, or -3.04%, and closed at 171.43 on Friday, January 10, 2020. It was the worst weekly loss since August 23, 2019. Weekly volume was -34% below average.

Long-term trend: [See CMI long-term trend chart]
A long-term downtrend had started on January 29, 2018 at 194.18 and reached 124.40 on December 26, 2018. CMI lost 69.78 points, or 35.94%, in 47 weeks. The price is now at the 67.40% retracement level.

Medium-term trend: [See CMI medium-term trend chart]
A medium-term uptrend had started on August 23, 2019 at 141.14 and reached 186.73 on November 8, 2019. CMI gained -45.59 points, or -32.30%, in 11 weeks. The price is now at the 33.56% retracement level.

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

The weekly MACD line is above its signal line since October 11, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See CMI short-term trend chart]
A short-term downtrend had started on November 8, 2019 at 186.73 and reached 171.32 on January 10, 2020. CMI lost 15.41 points, or 8.25%, in 63 days. Price is near the trend low.

Daily Technical Indicators: [See CMI daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. 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.

The daily MACD line is below its signal line since November 13, 2019. This is an indication that the short-term trend is down.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 21.46
Williams' Percentage Range (W%R) 79.90
Lane's Stochastic (%D-Slow) 15.78
Oversold
Greed/Fear Indicator (GFI) 19.11
Oversold
Moving Average Converg./Diverg. (MACD) -0.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.96
Williams' Percentage Range (W%R) 27.40
Lane's Stochastic (%D-Slow) 60.28
Greed/Fear Indicator (GFI) 61.90
Moving Average Converg./Diverg. (MACD) 5.33
Trading Signals
Description Value Chart
Upper Bollinger Band 184.75
50 Day Moving Average 180.25
Weekly Stochastic Crossing 179.31
20 Day Moving Average 178.96
Parabolic System 176.56
Daily Stochastic Crossing 172.96
Price 171.43
Lower Bollinger Band 170.54
Sector and Industry
Description Name Rank
Sector Industrial Goods 7
Industry Diversified Machinery 97
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 185.86
High Date 12/13/2019
Low 171.32
Low Date 01/10/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 186.73
High Date 11/08/2019
Low 171.32
Low Date 01/10/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 141.14
Low Date 08/23/2019
High 186.73
High Date 11/08/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 124.40
Low Date 12/26/2018
High 186.73
High Date 11/08/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 194.18
High Date 01/29/2018
Low 124.40
Low Date 12/26/2018
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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