Trading (CMI) With Integrated Risk Controls
May 08, 2024, 02:52 am ET, BY Bill- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CMI
- Buy CMI slightly over 272.72 target 295.4 stop loss @ 271.93 Details
The technical summary data tells us to buy CMI near 272.72 with an upside target of 295.4. This data also tells us to set a stop loss @ 271.93 to protect against excessive loss in case the stock begins to move against the trade. 272.72 is the first level of support below 286.91 , and by rule, any test of support is a buy signal. In this case, support 272.72 is being tested, a buy signal would exist.
- Short CMI slightly under 295.4, target 272.72, stop loss @ 296.25 Details
The technical summary data is suggesting a short of CMI as it gets near 295.4 with a downside target of 272.72. We should have a stop loss in place at 296.25though. 295.4 is the first level of resistance above 286.91, and by rule, any test of resistance is a short signal. In this case, if resistance 295.4 is being tested, a short signal would exist.
Swing Trading Plans for CMI
- Buy CMI slightly over 295.4, target n/a, Stop Loss @ 294.55 Details
If 295.4 begins to break higher, the technical summary data tells us to buy CMI just slightly over 295.4, with an upside target of n/a. The data also tells us to set a stop loss @ 294.55 in case the stock turns against the trade. 295.4 is the first level of resistance above 286.91, and by rule, any break above resistance is a buy signal. In this case, 295.4, 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 295.4, target 285.9, Stop Loss @ 296.25. Details
The technical summary data is suggesting a short of CMI if it tests 295.4 with a downside target of 285.9. We should have a stop loss in place at 296.25 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, 295.4, 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 288.91, target 295.4, Stop Loss @ 288.24 Details
If 288.91 begins to break higher, the technical summary data tells us to buy CMI just slightly over 288.91, with an upside target of 295.4. The data also tells us to set a stop loss @ 288.24 in case the stock turns against the trade. 288.91 is the first level of resistance above 286.91, and by rule, any break above resistance is a buy signal. In this case, 288.91, 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 288.91, target 285.9, Stop Loss @ 289.58. Details
The technical summary data is suggesting a short of CMI if it tests 288.91 with a downside target of 285.9. We should have a stop loss in place at 289.58 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, 288.91, 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 May 08:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Weak |
Strong |
| P1 |
0 |
0 |
251.1 |
| P2 |
281.64 |
276.86 |
272.72 |
| P3 |
288.91 |
285.9 |
295.4 |
AI Generated Signals for CMI
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for CMI:
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