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

By James Quinn

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 $14.32 and $14.51 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 41.5% for shares of Kinder Morgan In based on a current price of $14.50 and an average consensus analyst price target of $20.52. The stock should run into initial resistance at its 50-day moving average (MA) of $17.69 and subsequent resistance at its 200-day MA of $19.80.

Kinder Morgan In share prices have moved between a 52-week high of $22.58 and a 52-week low of $9.42 and are now trading 54% above that low price at $14.50 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.5% while the 200-day MA has slid 0.5%.

SmarTrend is monitoring the recent change of momentum in Kinder Morgan In. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kinder Morgan In in search of a potential trend change.

Keywords: bearish inside day candle kinder morgan in

Ticker(s): KMI