Cummins Inc. (NYSE) Analysis, Chart, and Trading Idea

#CMI
 

The trend is descending. The stock is traded in the range between 365 and 135 ЕМА. The ascending truncated wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.
 

Trading idea:

Buy at the breach of  232.50

Stop-loss: 236.54.

Target price levels: 228.10, 220.50