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Possible Bullish Inside Day Candle Pattern Detected for CMS Energy (NYSE:CMS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in CMS Energy (NYSE:CMS) based on the price action in the company's shares. Today's price range of $44.77 and $44.99 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. Traders and investors interested in shares of CMS Energy may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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

CMS Energy share prices have moved between a 52-week high of $46.25 and a 52-week low of $31.22 and are now trading 44% above that low price at $44.81 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.3%.

CMS Energy (NYSE:CMS) is currently priced 17.3% above its average consensus analyst price target of $37.04. The stock should find initial support at its 50-day moving average (MA) of $41.02 and further support at its 200-day MA of $36.94.

SmarTrend recommended that subscribers consider buying shares of CMS Energy on May 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.81. Since that recommendation, shares of CMS Energy have risen 6.6%. We continue to monitor CMS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle cms energy

Ticker(s): CMS