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

By Amy Schwartz

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 $20.15 and $20.26 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.

In the past 52 weeks, Kinder Morgan In share prices have been bracketed by a low of $14.62 and a high of $21.50 and are now at $20.25, 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has risen 0.3%.

Kinder Morgan In has overhead space with shares priced $20.25, or 1.3% below the average consensus analyst price target of $20.52. Kinder Morgan In shares should encounter resistance at the 50-day moving average (MA) of $20.32 and support at its 200-day MA of $19.89.

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