CMI Hits New 52-Week High at $526.50
$Cummins(CMI)$
Cummins Inc.(CMI) Surged +4.87%: Engine Giant Hits New 52-Week High at $526.50, Breaking Key Resistance
Latest Close Data
Cummins closed at $524.53 on Dec 11, up +4.87% (+$24.37) from yesterday's $500.16.
The stock achieved a new 52-week high of $526.50, marking a remarkable 101.82% gain from its 52-week low of $260.02.
Core Market Drivers
The surge follows strong institutional confidence with 18 analysts maintaining an average target price of $520.11.
Infrastructure spending optimism and diesel engine demand recovery are driving momentum.
Recent capital flows show mixed patterns with net outflows of $21M on the day, but strong retail buying interest persists.
Technical Analysis
Volume surged 36% above average (1.17M shares vs normal levels), indicating strong conviction.
RSI(6) sits at 77.07, approaching overbought territory but still showing bullish momentum.
MACD remains positive at 1.79 with DIF at 17.55 above DEA at 16.66, confirming the upward trend continuation.
Key Price Levels
Primary Support: $413.90 (previous swing low)
Strong Resistance: $528.00 (psychological level above 52-week high)
Immediate Pivot: $500.16 (yesterday's close, now support)
Valuation Perspective
CMI trades at P/E TTM of 27.23x vs historical average of 15.11x, indicating premium valuation.
Forward P/E of 21.68x suggests earnings growth expectations. P/S ratio of 2.16x appears reasonable for the industrial sector.
Analyst Targets
18 institutions cover CMI with targets ranging $450-$628. Consensus shows 5 Strong Buy, 6 Buy, and 12 Hold ratings, reflecting cautious optimism despite the recent breakout.
Weekly Outlook
Expect consolidation between $510-$530 as momentum cools.
A break above $528 targets $550-$560 range. Failure to hold $500 support could trigger profit-taking back to $480 levels.
Risk Disclaimer
This analysis is for informational purposes only. Past performance doesn't guarantee future results. Please conduct your own research and consider consulting a financial advisor before making investment decisions.
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