High Above Average Volume on Cummins

Published on Tuesday, 27 July 2010 11:44 Written by Christian Paolinetti

New York, July 27th (TradersHuddle.com) - Unusual high volume detected on shares of Cummins Inc. (NYSE:CMI), early in the trading session. Cummins is currently trading higher by 2.77%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Cummins Inc. designs, manufactures, distributes and services diesel and natural gas engines. The Company also manufactures electric power generation systems and engine-related component products, including filtration and exhaust aftertreatment, fuel systems, controls, and air handling systems. The Cummins, Inc. headquartered in Columbus, Indiana.

Cummins has already traded 0.935 times its 3-month average volume, and has calculated support and resistance at $68.52 and $75.38 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.37% from its previous trading close, which means that Cummins stock is outperforming the overall market.