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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 $59.58 and $61.73 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 $46.03 and a high of $69.17 and are now at $59.85, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

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) defies analysts with a current price ($59.85) 19.9% above its average consensus price target of $47.93. Cms Energy Corp shares should first meet resistance at the 200-day moving average (MA) of $62.09 and find additional resistance at the 50-day MA of $64.12.

SmarTrend is monitoring the recent change of momentum in Cms Energy Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cms Energy Corp in search of a potential trend change.

Keywords: bearish inside day candle cms energy corp

Ticker(s): CMS