CMS ends the day on a bearish note closing near the low of the day


CMS Energy (CMS) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
CMS closes below its opening price unable to hold early session gains
CMS ends the day on a bearish note closing near the low of the day
CMS closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

CMS ended the week 0.02% higher at 48.37 after edging lower $0.08 (-0.17%) today. Trading $0.42 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for CMS
Volatility

Friday's trading range was $0.68 (1.4%), that's slightly above last trading month's daily average range of $0.65. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 48.07.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for CMS Energy
Condition Forecast Direction Win Avg Worst Best Events
Decisive Up Move TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
White Candle TQ Pro Members Only
RSI(14) above 70 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
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