• Return to Headlines

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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Kinder Morgan In (NYSE:KMI) based on the price action in the company's shares. Yesterday's price range of $15.69 and $16.00 is within the prior day'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. Traders and investors interested in shares of Kinder Morgan In may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

Over the past year, Kinder Morgan In has traded in a range of $15.07 to $23.36 and closed yesterday at $15.91, 6% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has remained constant.

There is potential upside of 38.6% for shares of Kinder Morgan In based on a current price of $15.91 and an average consensus analyst price target of $22.05. The stock should run into initial resistance at its 50-day moving average (MA) of $18.07 and subsequent resistance at its 200-day MA of $22.83.

SmarTrend recommended that its subscribers protect gains by selling shares of Kinder Morgan In on February 1st, 2018 by issuing a Downtrend alert when the shares were trading at $17.95. Since that call, shares of Kinder Morgan In have fallen 13.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle kinder morgan in

Ticker(s): KMI