Technical indicators signal a Rectangle forming. Verify the setup on the chart.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Market participants tracking Cummins should note the latest formation. The stock is trading at $549.68, down 0.07% on the day. Algorithmically, a Bearish Flag structure has completed. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $510.05, targeting $404.19 with support near $564.63 (R:R 1.94).
What is your outlook on CMI?