- CMS Energy Corp. stock price eroded by 17.73% in the last two months.
- The RSI is in an oversold zone and in favor of a bearish trend.
- CMS Energy Corp. stock price formed a strong bullish marubozu candlestick and is recovering from last-day losses.
CMS Energy Corporation engages in the provision of electric and natural gas activities. It operates through the following business segments: electric utility, gas utility, and NorthStar Clean Energy. The Electric Utility segment focuses on the generation, purchase, distribution, and sale of electricity. The Gas Utility segment includes the purchase, transmission, storage, distribution, and sale of natural gas.
Based on the last quarterly reports, the Q2 2023 earnings report was announced on June 27, 2023. The estimated EPS was 0.696 and the reported EPS was 0.75, which was positively surprised by 0.054 (7.76%).
The estimated revenue was $2.04 Billion and the reported revenue was $1.555 Billion, which was negatively surprised by $485.036 Million (23.78%). Due to this negative report, the price melted by 12.77% in August.
CMS Energy Corp. publicized a dividend of $0.488 on August 3, 2023, and the payment date was August 31, 2023. The CMS Energy debt-to-equity ratio for three months ending June 30, 2023, was 1.87.
According to the technical indicators, CMS Energy stock price is trading below the 200-day EMA. The RSI is at 31.83 which shows that the price is in an oversold zone. MACD suggests that volume is strongly negative and a bearish crossover was also in the EMAs. Hence, MACD is in favor of bearish momentum.
CMS Stock Price Technical Analysis Over 1D Timeframe
CMS stock price is trading at $51.88 with an intraday gain of 2.61%. The market capitalization is $14.57 Billion and the market float is 290.25 Million. The average volume is 1.89, the P/E ratio is 20.79 and the dividend yield is 3.75%.
CMS Energy stock price was struggling in a parallel channel that gave a breakdown and went for a retest that made the price decline by 11.37% within two weeks. But now, the price is trying to recover past losses by forming a complete bullish engulfing candlestick.
If the CMS stock price holds over $53.50, the price may gain some bullish momentum. But if the investors bring back confidence, then in the upcoming few sessions, the price may recover its losses.
On the other hand, if CMS stock price doesn’t sustain over the $50 mark and slips, then one can see a bearish momentum. If this happens, then buyers should be stronger to shift the momentum to the bullish side.
Conclusion
CMS Energy stock price is in a downtrend and sellers are in grip. If the price forms a bottom for some time, then it gives a bullish breakout. One can trust this breakout and plan for buying. But if the price doesn’t hold and starts declining from here, then investors should avoid buying.
Technical Levels
Resistance Level: $53.50 and $58.50
Support Level: $50 and $47.50
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading stock assets comes with a risk of financial loss.
