Trade Idea for Cummins Inc. (NYSE)

Cummins Inc. (NYSE)

#CMI

    The trend is bullish. The stock is trading within the range of the 365 and 135 EMAs. The bearish wave structure is truncated. The Awesome Oscillator shows bullish divergence.

Trading idea:

Buy upon the formation of a new bullish wave structure, where wave (A) breaks above the descending channel of the truncated bearish structure.

Stop Loss – 550.50.

Target levels – 588.50; 606.00.