Technical indicators signal a Rising Wedge forming. Verify the setup on the chart.
Reversal pattern. Price likely to break downwards.
Gradual reversal from bearish to bullish.
Bullish continuation if preceding move was up.
A clear signal has emerged for Cummins (CMI) on the daily chart. The stock is trading at $639.7, down 4.5% on the day. Price action has carved out a classic Bullish Flag. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $718.08, targeting $926.11 with support near $631.07 (R:R 2.39).
What is your outlook on CMI?