Monday, 25 April 2016

KMI - full of bearish surprises?

With the broader market closing broadly weak, there was notable weakness in Kinder Morgan (KMI) which settled lower by a rather significant -3.4% @ $17.50. Next support is the very wide gap zone of $17-15.

KMI, daily

KMI, monthly, 6yr


*a notable fourth consecutive net daily decline.

Suffice to add, KMI has been stuck since early March around $19.

Near term outlook is bearish to the 17-15 zone.

The key question is whether the broader market - and indeed, KMI, will break the Jan' lows?

Best guess: YES... but that is predicated on the notion of sp'1800s (at least), with Oil back under $30.

*no position, but increasingly monitoring the stock/company.