Some Setups are Too Good to Pass Up.
![Some Setups are Too Good to Pass Up.](/content/images/size/w1200/2023/10/CAsey-Stubbs-daily-brief.png)
I've taken a closer look at Cummins Inc. (CMI), and there are several compelling reasons why this trade looks promising at the moment. Here's a detailed analysis:
- Strong Uptrend: CMI is currently exhibiting a strong uptrend within a robust market environment. This foundational strength is a key indicator of its potential for sustained growth.
- Consolidation Phase: After a period of significant upward movement, CMI is now in a consolidation phase. This indicates stability and sets the stage for potential future gains.
- Rejection of a New High: Although CMI recently rejected a new high, this action should not deter investors. Instead, it suggests that the price is correcting itself, offering a more favorable entry point.
- Pullback Opportunity: The current pullback in CMI's price is viewed as an optimal buying opportunity. This timing aligns with the stock's overall positive trajectory and market sentiment.
- Positive Candlestick Patterns: Across all major timeframes, including monthly and weekly charts, CMI displays positive candlestick formations. These patterns reflect buyer confidence and market strength.
![](https://www.swingtradingreports.com/content/images/2024/04/image.png)
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Get My Book Today To Learn My Trading System:
CMI presents a solid trading opportunity with potential for substantial returns.
Please review the attached chart and let me know your thoughts.
![](https://www.swingtradingreports.com/content/images/2024/04/image-1.png)
I believe this could be a strategic addition to our portfolio, aligning with our principles of planning, consistency, and diversification.
To Your Trading Success,
Casey Stubbs
PS. Take a look at my strategy in an in depth workshop.