How the (CMI) price action is used to our Advantage

September 01, 2024, 01:38 am ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CMI

• Buy CMI slightly over 301.64 target 322.98 stop loss @ 300.77 Details

The technical summary data tells us to buy CMI near 301.64 with an upside target of 322.98. This data also tells us to set a stop loss @ 300.77 to protect against excessive loss in case the stock begins to move against the trade. 301.64 is the first level of support below 312.85 , and by rule, any test of support is a buy signal. In this case, support 301.64 is being tested, a buy signal would exist.

• Short CMI slightly under 322.98, target 301.64, stop loss @ 323.91 Details

The technical summary data is suggesting a short of CMI as it gets near 322.98 with a downside target of 301.64. We should have a stop loss in place at 323.91though. 322.98 is the first level of resistance above 312.85, and by rule, any test of resistance is a short signal. In this case, if resistance 322.98 is being tested, a short signal would exist.

Swing Trading Plans for CMI

• Buy CMI slightly over 314.45, target 322.98, Stop Loss @ 313.54 Details

If 314.45 begins to break higher, the technical summary data tells us to buy CMI just slightly over 314.45, with an upside target of 322.98. The data also tells us to set a stop loss @ 313.54 in case the stock turns against the trade. 314.45 is the first level of resistance above 312.85, and by rule, any break above resistance is a buy signal. In this case, 314.45, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CMI slightly near 314.45, target 309.13, Stop Loss @ 315.36. Details

The technical summary data is suggesting a short of CMI if it tests 314.45 with a downside target of 309.13. We should have a stop loss in place at 315.36 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 314.45, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CMI

• Buy CMI slightly over 314.45, target 322.98, Stop Loss @ 313.72 Details

If 314.45 begins to break higher, the technical summary data tells us to buy CMI just slightly over 314.45, with an upside target of 322.98. The data also tells us to set a stop loss @ 313.72 in case the stock turns against the trade. 314.45 is the first level of resistance above 312.85, and by rule, any break above resistance is a buy signal. In this case, 314.45, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CMI slightly near 314.45, target 311.89, Stop Loss @ 315.18. Details

The technical summary data is suggesting a short of CMI if it tests 314.45 with a downside target of 311.89. We should have a stop loss in place at 315.18 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 314.45, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Cummins Inc. (CMI) available here: CMI.

CMI Ratings for September 01:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Strong
P1	0	0	280.35
P2	307.74	309.13	301.64
P3	311.89	314.45	322.98

AI Generated Signals for CMI

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Cummins Inc. (NYSE: CMI) data table below can help you with price action, and we have more details too. Trading plans for CMI are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.