CMI slips to lowest close since August 2nd


Cummins Inc. (CMI) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
CMI breaks key support level
CMI closes lower for the 3rd day in a row
CMI breaks below previous session low
CMI falls to lowest close since August 2nd
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 3rd day in a row, CMI ended the week -0.93% lower at 140.29 after losing $1.73 (-1.22%) today. Today's closing price of 140.29 marks the lowest close since August 2nd. Closing below Thursday's low at 141.55, the market confirms its breakout through the previous session's low having traded $1.73 below it intraday.

Daily chart for CMI
Volatility

Friday's trading range was $1.93 (1.37%), that's slightly below last trading month's daily average range of $2.79. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking below the key support level at 141.25 today, it is now likely to act as resistance going forward.

Trend

Although the share is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Trading close to June's high at 145.19 we could see further upside momentum if potential buy stops at the level get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Cummins Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Morning Star TQ Pro Members Only
Gap Up TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Cummins Inc. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
ASX 6,328.30-0.70 -0.01%
DXY 96.535-0.045 -0.05%
NKY 22,192.04-12.18 -0.05%
GOLD 1,181.0-0.8 -0.07%
HSI 27,100.06-223.53 -0.82%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.22 0.77
0.79%
ACN 10 day candlestick chart for ACN162.89 2.48
1.55%
ADBE 10 day candlestick chart for ADBE248.89 -1.63
-0.65%
AAP 10 day candlestick chart for AAP159.49 1.46
0.92%
AES 10 day candlestick chart for AES13.87 0.38
2.82%
AET 10 day candlestick chart for AET198.47 1.18
0.60%
AFL 10 day candlestick chart for AFL46.50 0.21
0.45%
AMG 10 day candlestick chart for AMG146.29 0.86
0.59%
A 10 day candlestick chart for A65.50 0.77
1.19%
ABT 10 day candlestick chart for ABT64.16 0.69
1.09%