Cummins (CMI) : Traders are bullish on Cummins (CMI) as it has outperformed the S&P 500 by a wide margin of 0.79% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.82%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.33% in the last 1 week, and is up 0.65% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 0.55% and the 50-Day Moving Average is 5.44%.The 200 Day SMA reached 19.96%. Cummins Inc. is up 9.36% in the last 3-month period. Year-to-Date the stock performance stands at 47.21%.
Cummins (NYSE:CMI): After opening at $126.12, the stock dipped to an intraday low of $125.64 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $126.55 and the buying power remained strong till the end. The stock closed at $126.16 for the day, a gain of 0.60% for the day session. The total traded volume was 1,273,498. The stocks close on the previous trading day was $125.41.
Cummins Inc. is a global diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. It has four operating segments: Engine, Distribution, Components and Power Generation. The Company sells its products to original equipment manufacturers (OEMs), distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7,200 dealer locations in more than 190 countries. In addition, engines and engine components are manufactured by the Companys joint ventures or independent licensees at its manufacturing plants in the United States, China, India, South Korea, Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.