After Yesterday's Rally of 1.74% Shares Could Potentially Pullback
Kinder Morgan (NYSE:KMI) traded in a range yesterday that spanned from a low of $17.85 to a high of $18.25. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $18.07 on volume of 6.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Kinder Morgan share prices have moved between a 52-week high of $43.34 and a 52-week low of $11.20 and are now trading 62% above that low price at $18.13 per share. Over the past week, the 200-day moving average (MA) has gone down 1.7% while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Kinder Morgan on January 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $15.24. Since that recommendation, shares of Kinder Morgan have risen 17.2%. We continue to monitor KMI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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