Londinia Opportunities Analyses - 04/19/2024 (GMT) CUMMINS INC. - 1H
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
- U.S. Stocks
- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 296.91 USD
My targets
275.99 USD (-3.98%)
265.40 USD (-7.66%)
My analysis
The bearish trend is currently very strong for CUMMINS INC.. As long as the price remains below the resistance at 296.91 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 275.99 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 265.40 USD as an objective. Crossing it would then enable sellers to target 260.90 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
7.9
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Additional analysis
Quotes
The CUMMINS INC. price is 287.43 USD. The price is lower by -1.37% since the last closing and was between 284.92 USD and 293.43 USD. This implies that the price is at +0.88% from its lowest and at -2.04% from its highest.284.92
293.43
287.43
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Abnormal volumes on CUMMINS INC. were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of CUMMINS INC. indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 260.90 | 265.40 | 275.99 | 287.43 | 287.58 | 296.91 | 302.86 |
| Change (%) | -9.23% | -7.66% | -3.98% | - | +0.05% | +3.30% | +5.37% |
| Change | -26.53 | -22.03 | -11.44 | - | +0.15 | +9.48 | +15.43 |
| Level | Intermediate | Minor | Major | - | Major | Intermediate | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 285.13 | 287.41 | 289.42 | 291.70 | 293.71 | 295.99 | 298.00 |
| Camarilla | 290.24 | 290.63 | 291.03 | 291.42 | 291.81 | 292.21 | 292.60 |
| Woodie | 284.99 | 287.34 | 289.28 | 291.63 | 293.57 | 295.92 | 297.86 |
| Fibonacci | 287.41 | 289.05 | 290.07 | 291.70 | 293.34 | 294.36 | 295.99 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 288.03 | 292.40 | 295.51 | 299.88 | 302.99 | 307.36 | 310.47 |
| Camarilla | 296.57 | 297.26 | 297.94 | 298.63 | 299.32 | 300.00 | 300.69 |
| Woodie | 287.41 | 292.09 | 294.89 | 299.57 | 302.37 | 307.05 | 309.85 |
| Fibonacci | 292.40 | 295.25 | 297.02 | 299.88 | 302.73 | 304.50 | 307.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 239.45 | 251.48 | 273.06 | 285.09 | 306.67 | 318.70 | 340.28 |
| Camarilla | 285.41 | 288.49 | 291.57 | 294.65 | 297.73 | 300.81 | 303.89 |
| Woodie | 244.24 | 253.87 | 277.85 | 287.48 | 311.46 | 321.09 | 345.07 |
| Fibonacci | 251.48 | 264.32 | 272.25 | 285.09 | 297.93 | 305.86 | 318.70 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.48 | |
| MACD (12,26,9): | -1.7500 | |
| Directional Movement: | -17.05 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 289.39 | |
| Parabolic SAR (0,02-0,02-0,2): | 293.33 | |
| Elder Ray (13): | -3.46 | |
| Super Trend (3,10): | 295.02 | |
| Zig ZAG (10): | 287.41 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 23.32 | |
| TEMA (21): | 289.21 | |
| Williams %R (14): | -72.71 | |
| Chande Momentum Oscillator (20): | -3.73 | |
| Repulse (5,40,3): | -1.2700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0800 | |
| Courbe Coppock: | 1.17 |
| MA7: | 294.59 | |
| MA20: | 295.24 | |
| MA50: | 279.13 | |
| MA100: | 258.12 | |
| MAexp7: | 289.39 | |
| MAexp20: | 291.61 | |
| MAexp50: | 294.21 | |
| MAexp100: | 294.23 | |
| Price / MA7: | -2.43% | |
| Price / MA20: | -2.65% | |
| Price / MA50: | +2.97% | |
| Price / MA100: | +11.36% | |
| Price / MAexp7: | -0.68% | |
| Price / MAexp20: | -1.43% | |
| Price / MAexp50: | -2.30% | |
| Price / MAexp100: | -2.31% |
Quotes :
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15 min delayed data
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Actions NYSE
News
Don't forget to follow the news on CUMMINS INC.. At the time of publication of this analysis, the latest news was as follows:
- Cummins Announces Field Testing of Mining Hybrid (Diesel-Battery) Truck Solution
- Cummins Water Works: Watershed Warriors
- Cummins: Valuing the Power of Difference
- The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Cummins Inc. (CMI)
- Cummins Inc. Deadline Approaching: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Cummins Inc. of Deadline in Securities Fraud Class Action Lawsuit