Cummins Booked a New High

Published on Tuesday, 27 July 2010 13:38 Written by Christopher Lynn

New York, July 27th (TradersHuddle.com) - Shares of Cummins Inc. (NYSE:CMI) booked a new 52 week high today by trading above $78.43, traders are definitely monitoring Cummins' price action to see if this move attracts further buying into the stock.

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 is currently trading 1.26% versus its previous trading session close, and it has calculated support and resistance at $68.52 and $75.38 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading lower by -0.16% from its previous trading close, which means that Cummins stock is outperforming the overall market.