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Williams' Percentage Range (W%R) |
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Williams' %R is an effective momentum indicator that measures
overbought/oversold levels. Like other indicators, W%R ranges between 0% and
100% , but in opposite to the other indicators, the 0% indicating overbought and
100% - the oversold stocks. W%R measures the closing price in relation to the recent
low/high range. A bullish signal is generated when the W%R has reached 100,
five time bars have elapsed, and the W%R has subsequently fallen to 95. A
reverse signal is considered as bearish. For the sake of simplicity, the W%R
closed above 10% is considered bearish and below 90% - bullish. In trending
markets, the W%R stays at one end of the scale and gives false signals to
trade against the trend. That is why W%R is not considered a stand-along
technique, and it is essential to use it with some sort of trend formation
indicators. The divergence between price and W%R rarely occurs and presents an
important buy/sell signal. As our research shows, the W%R move to upper or lower
bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
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Advanced TA SearchArchive
- 6/7/2024 -
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CUMMINS INC (CMI) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the CUMMINS INC (CMI). During the week, the CMI dropped -9.86 points, or -3.50%, and closed at 271.87 on Friday, June 7, 2024. Weekly volume was -39% below average.
 Long-term trend: [See CMI long-term trend chart]
A long-term uptrend had started on October 9, 2002 at 4.90 and reached 304.25 on April 11, 2024. CMI gained -299.35 points, or -6109.18%, in 1122 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 124.48 and resistance is at 326.10. 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 304.25 on April 11, 2024. CMI gained -119.97 points, or -65.10%, in 94 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (272.45). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CMI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 24, 2024. 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 May 13, 2024 at 300.22 and reached 270.54 on June 7, 2024. CMI lost 29.68 points, or 9.89%, in 25 days. The chart has formed a Falling Channel chart pattern.
 Daily Technical Indicators: [See CMI daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The daily MACD line is below its signal line since May 16, 2024. This is an indication that the short-term trend is down.
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