CMS ends the day on a bearish note closing near the low of the day
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.
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.
Prices are trading close to a key support level at 48.07.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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
|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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