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$CMI Slammed On Earnings, Here Is The Buy Level

Shares of Cummins Inc.(NYSE:CMI) dropped sharply today after the company missed earnings expectations. On a side note, the company actually upped guidance, but it still fell almost 10%. Why? Well the stock is up over 100% in the since early 2016. For a company this size, that is a ridiculous move. Any sort of hiccup would see selling from investors. As a trader, all I care about is where I am going to make money from it. The answer can be found by looking at the stock chart. The stock chart has significant support at $146.50. This is where I will be a buyer and where I will look for a solid swing trade bounce back to $154.00.