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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 $20.05 and $20.05 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.

There is potential upside of 2.4% for shares of Kinder Morgan In based on a current price of $20.05 and an average consensus analyst price target of $20.52. The stock should discover initial support at its 50-day moving average (MA) of $19.69 and subsequent support at its 200-day MA of $17.98.

Kinder Morgan In share prices have moved between a 52-week high of $20.44 and a 52-week low of $14.62 and are now trading 37% above that low price at $20.05 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Kinder Morgan In on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $16.92. Since that recommendation, shares of Kinder Morgan In have risen 18.7%. We continue to monitor KMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle kinder morgan in

Ticker(s): KMI