The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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CUMMINS INC (CMI) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic and MACD bearish divergence
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It was a fourth consecutive positive week for the CUMMINS INC (CMI). During the week, the CMI gained 6.02 points, or 2.04%, and closed at 300.67 on Friday, April 5, 2024. Weekly volume was -25% below average.

CMI is a member of Industrials Sector. Industrials is the 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 301.50 on April 5, 2024. CMI gained -296.60 points, or -6053.06%, in 1121 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 123.44 and resistance is at 323.31. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See CMI medium-term trend chart]
A medium-term uptrend had started on June 23, 2022 at 184.28 and reached 301.50 on April 5, 2024. CMI gained -117.22 points, or -63.61%, in 93 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (221.20) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 March 14, 2024 at 260.88 and reached 301.50 on April 5, 2024. CMI gained -40.62 points, or -15.57%, in 22 days. Price is near the trend high.

Daily Technical Indicators: [See CMI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is above its signal line since March 15, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.05
Williams' Percentage Range (W%R) 13.40
Overbought
Lane's Stochastic (%D-Slow) 80.48
Overbought Bearish
Greed/Fear Indicator (GFI) 81.72
Overbought
Moving Average Converg./Diverg. (MACD) 8.44 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.88
Overbought
Williams' Percentage Range (W%R) 6.20
Strong Overbought
Lane's Stochastic (%D-Slow) 91.27
Strong Overbought
Greed/Fear Indicator (GFI) 84.33
Overbought
Moving Average Converg./Diverg. (MACD) 8.24
Trading Signals
Description Value Chart
Yearly Trendline Resistance 323.31
Upper Bollinger Band 308.41
Price 300.67
Daily Stochastic Crossing 298.55
Weekly Stochastic Crossing 296.85
Monthly Trendline Resistance 289.40
20 Day Moving Average 285.13
Parabolic System 284.36
Quarterly Trendline Resistance 270.99
50 Day Moving Average 268.35
Lower Bollinger Band 263.90
Sector and Industry
Description Name Rank
Sector Industrials 9
Industry Industrial Machinery 104
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 260.88
Low Date 03/14/2024
High 301.50
High Date 04/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 226.52
Low Date 01/19/2024
High 301.50
High Date 04/05/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 289.40
Support 240.43
Low 212.80
Low Date 11/02/2023
High 301.50
High Date 04/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 270.99
Support 221.20
Low 184.28
Low Date 06/23/2022
High 301.50
High Date 04/05/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 323.31
Support 123.44
Low 4.90
Low Date 10/09/2002
High 301.50
High Date 04/05/2024
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.