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SmarTrend Watching for Potential Rebound in Shares of Cummins After 3.40% Loss
Feb 20, 2013 (SmarTrend(R) News Watch via COMTEX) --
Cummins (NYSE:CMI) traded in a range yesterday that spanned from a low of $114.52 to a high of $118.19. Yesterday, the shares fell 3.4%, which took the trading range below the 3-day low of $117.89 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
SmarTrend recommended that subscribers consider buying shares of Cummins on November 1st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $96.53. Since that recommendation, shares of Cummins have risen 23.1%. 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 have traded between a low of $82.20 and a high of $129.51 and are now at $114.83, which is 40% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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