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Possible Bearish Inside Day Candle Pattern Detected for Cms Energy Corp (NYSE:CMS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cms Energy Corp (NYSE:CMS) based on the price action in the company's shares. Today's price range of $58.96 and $59.13 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Cms Energy Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

CMS Energy Corporation is an energy company. The Company, through its subsidiaries, provides electricity and natural gas to its customers. CMS Energy also invests in and operates non-utility power generation plants in the United States and abroad.

Cms Energy Corp (NYSE:CMS) is currently priced 18.7% above its average consensus analyst price target of $47.93. The stock should discover initial support at its 50-day moving average (MA) of $56.05 and subsequent support at its 200-day MA of $52.63.

In the past 52 weeks, shares of Cms Energy Corp have traded between a low of $44.04 and a high of $59.22 and are now at $58.96, which is 34% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Cms Energy Corp on February 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.65. Since that recommendation, shares of Cms Energy Corp have risen 14.5%. We continue to monitor CMS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle cms energy corp

Ticker(s): CMS