Stocks to Buy in June: Cummins (CMI)
Click to EnlargeDiversified machinery companies are having a good year, and although a rising tide lifts all boats, Cummins (CMI) stands out among such industrial stocks to buy. CMI stock is beating the broader market by 5 percentage points so far this year and has the technical strength to outperform in June too.
Among the positive, CMI shares are currently trading 3.3% above their 50-day moving average, and 11.1% above their 200-day moving average. Additionally, CMI has strength, but not so much as to put it into overbought territory. The relative strength indicator of 61 tops the industry average of 52.
Most impressively, CMI stock has a great track record of outperforming in the early summer months. Based on 10 years of data, CMI stock has an implied upside of 2.1% in June, accelerating to 9.9% in July.