Cummins Inc. : Anticipation of a bearish reversal
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$99.46 | $0 | $103.2 | +100% |
After a substantial upturn, the stock now approaches the resistance at USD 100.4, fact that could inverse the tendency. In addition, the strength of this resistance will help for a return towards the next support at USD 91.15.
Due to the technical configuration of the stock, investors can open a short position close to the USD 100.4 resistance. The price target is set at USD 91.17 and a stop-loss will be placed above USD 100.4.