2waytrading

Is Bottom Printed for now?

NYSE:CMI   CUMMINS INC
145 0 0
Friday, took a small position as noted on the chart. If you decide to go in, add above 50% 141.66 area with target price $147 area. Since earning, and the overreaction of traders, we put the stock under our radar, there was no major pattern that formed but from weekly chart, price bounced off from ascending support trend line , and was a good indication that the bottom was near if not printed at least for now. However, on a short-term basis the breakdown under its 200-dma             looks pretty ugly. The bounce last week failed near $144.00 or close to 3-ema which it failed 3-times last few months which was an indication of what was coming. Though we initiated high risk trade at this difficult area which is a bearish zone, we will add above $141.67 area and $1.44.50 area. 3-step trade positions. In case, you want to take this trade, make your stop loss at recent swing low at and around $137 area with target price $147 to $152 area. Stay safe and follow us for more to come.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out