CUMMINS INC (CMI)
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|It was the negative week for the CUMMINS INC (CMI). During the week, the CMI dropped -5.54 points, or -3.18%, and closed at 168.75 on Friday, June 26, 2020. Weekly volume was -36% below average. |
CMI is a member of Industrials Sector. Industrials is the second most overbought 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 uptrend had started on October 9, 2002 at 4.90 and reached 194.18 on January 29, 2018. CMI gained -189.28 points, or -3862.86%, in 798 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 141.08 and resistance is at 221.72. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
Medium-term trend: [See CMI medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 101.03 and reached 184.94 on June 8, 2020. CMI gained -83.91 points, or -83.05%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (171.75) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
Weekly Technical Indicators: [See CMI weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 1, 2020. This is an indication that the medium-term trend is up. 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 June 8, 2020 at 184.94 and reached 160.61 on June 15, 2020. CMI lost 24.33 points, or 13.16%, in 7 days. The price is now at the 33.46% retracement level.
Daily Technical Indicators: [See CMI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since June 10, 2020. This is an indication that the short-term trend is down.
During the last week, the price has declined below 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.