Cummins Inc

CMI remains entrenched in a Stage 4 decline with bearish medium-term bias. Support failure near the 664 zone confirms accelerating downside and lower highs/lows. Price is below the declining 9, 21, and 50 EMAs, which are acting as overhead resistance on rallies. Distribution volume on sell-offs outweighs buying on bounces, reinforcing continuation of selling. Short-term timing is unfavorable, so initiate sales now into the EMA resistance zone. The long-term uptrend on the 200 DMA stays intact but is irrelevant for near-term engagement.

• ↑Power-gen revenues +19% YoY with record Q4 data-center orders.
• ↑Q1 2026 revenue $8.4 B (+3% YoY); gross margin at 26.7%.
• ↓Heavy-duty and medium-duty truck volumes slid 40% YoY; further 25–30% declines expected.