CMS pushes through 20-day moving average

CMS Energy (CMS) Technical Analysis Report for Apr 16, 2018

Highlights

CMS rallies 1.79% closing $0.79 higher
CMS pushes through key resistance level
CMS dominated by bulls lifting the market higher throughout the day
CMS pushes through 20-day moving average
CMS closes higher for the 2nd day in a row

TQ Sentiment

Report Sentiment: 75% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, CMS ended Monday at 45.00 surging $0.79 (1.79%). This is the biggest single day gain in over two weeks. Today's closing price of 45.00 marks the highest close since April 9th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 44.41, the market confirms its breakout through the prior session's high having traded $0.64 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for CMS

Volatility

Monday's trading range was $0.71 (1.6%), that's slightly below last trading month's daily average range of $0.73. 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

Breaking through the key resistance level at 44.74 today, it is now likely to act as support going forward.

Trend

The share shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The stock managed to break above the 20-day moving average at 44.59 today for the first time since March 14th.

Order Flow

As prices are trading close to April's high at 45.81, upside momentum could speed up should CMS Energy mark new highs for the month.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for CMS Energy

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