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

By James Quinn

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 $59.09 and $59.09 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.

In the past 52 weeks, shares of Cms Energy Corp have traded between a low of $46.25 and a high of $59.34 and are now at $59.09, which is 28% above that low price. The 200-day and 50-day moving averages have moved 0.39% higher and 0.52% higher over the past week, respectively.

Based on a current price of $59.09, Cms Energy Corp is currently 18.9% above its average consensus analyst price target of $47.93. Cms Energy Corp shares have support at the 50-day moving average (MA) of $57.54 and additional support at the 200-day MA of $53.48.

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.

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 $51.66. 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