Cummins Inc.Short
Reversal indicated in CMI
This is a stretch, but I'm posting anyway because it's saying it's accurate. And if I get the clown emojis, I shall be stronger for it LOL
This was chosen from a list of earnings names this week via my dowsing work. As in, with a pendulum. I had posted the earnings idea elsewhere, and the gist was up 4%, then down. That's playing out, so I thought I better follow up and see wth is so important with this thing.
The message is super bearish. I get both "new all time low" and "new 52 week low". This does NOT mean literally all time low or even 52 week low (as I've learned). But it does indicate a substantial reversal lower.
I'm having a bit of trouble nailing down the target. It could be as low as around $203 if it's a 45 point move. OR, it could be a 45% drop and go way lower. At a minimum I'd say test $200. I ask how long to be in this and get the date of around 5/29. Looks like options go to June though.
On a technical note, and for perspective, I looked at a monthly and see a bit of a diamond pattern. I haven't seen many of these, but did once that I remember and it had a powerful move. I'm not a big pattern seeker though, so maybe someone else knows if this could be meaningful. Also interested if anyone knows a fundamental scenario for a big drop?
My only other concern with these repeating numbers I get in the '40s is that it's currently trading in the 40s, so it might be better to see it completely break the 240s altogether, and that is confirmation it's 45 pts, or percent, and not a shallow drop from the current price. The number 42 came up twice and price range of 125-150, so that's why I have that level as the final potential target.
That's all.
This was chosen from a list of earnings names this week via my dowsing work. As in, with a pendulum. I had posted the earnings idea elsewhere, and the gist was up 4%, then down. That's playing out, so I thought I better follow up and see wth is so important with this thing.
The message is super bearish. I get both "new all time low" and "new 52 week low". This does NOT mean literally all time low or even 52 week low (as I've learned). But it does indicate a substantial reversal lower.
I'm having a bit of trouble nailing down the target. It could be as low as around $203 if it's a 45 point move. OR, it could be a 45% drop and go way lower. At a minimum I'd say test $200. I ask how long to be in this and get the date of around 5/29. Looks like options go to June though.
On a technical note, and for perspective, I looked at a monthly and see a bit of a diamond pattern. I haven't seen many of these, but did once that I remember and it had a powerful move. I'm not a big pattern seeker though, so maybe someone else knows if this could be meaningful. Also interested if anyone knows a fundamental scenario for a big drop?
My only other concern with these repeating numbers I get in the '40s is that it's currently trading in the 40s, so it might be better to see it completely break the 240s altogether, and that is confirmation it's 45 pts, or percent, and not a shallow drop from the current price. The number 42 came up twice and price range of 125-150, so that's why I have that level as the final potential target.
That's all.
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