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Possible Bearish Inside Day Candle Pattern Detected for Kinder Morgan In (NYSE:KMI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Kinder Morgan In (NYSE:KMI) based on the price action in the company's shares. Today's price range of $20.27 and $20.36 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 Kinder Morgan In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Kinder Morgan, Inc. is a pipeline transportation and energy storage company. The Company owns and operates pipelines that transport natural gas, gasoline, crude oil, carbon dioxide, and other products, and terminals that store petroleum products and chemicals and handle bulk materials like coal and petroleum coke.

Potential upside of 0.8% exists for Kinder Morgan In, based on a current level of $20.36 and analysts' average consensus price target of $20.52. The stock should find resistance at its 50-day moving average (MA) of $20.67, as well as support at its 200-day MA of $19.05.

In the past 52 weeks, shares of Kinder Morgan In have traded between a low of $14.62 and a high of $21.50 and are now at $20.36, which is 39% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Kinder Morgan In and will alert subscribers who have KMI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle kinder morgan in

Ticker(s): KMI