Stocktrading4living
Long

CMI: Bottom and breakout of the range

NYSE:CMI   CUMMINS INC
CMI built up a Bottom on a Long lasting supportzone at 130$. Double (or tripple) Bottom finished with the break of the resist at 153$.
Profittarget is at 178$ which nearly perfectly fits to the Setup. Two factors support this target:
1. The Zone at 178$ was an old resistance
2. If you add the width of the range to the breakout Level than you will get the same target as the result.

Stop loss sligthly beyond the breakoutlevel of 153$.

Take a Long Position on this Setup today.
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