Will Kinder Morgan Stock Continue to Trade Weak?
Kinder Morgan trades weak
Kinder Morgan (KMI) fell 0.5% last week, as we discussed in the previous part. Kinder Morgan continues to trade below its 50-day and 200-day moving average levels. The stock temporarily crossed above its 50-day moving average on September 25, 2017, but closed below it again the next day.
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As the above graph shows, Kinder Morgan stock is finding resistance near its 50-day moving average level. It isn’t able to stay above the level. The stock might trade weak until it crosses and stays above this level.
Kinder Morgan fell below its 200-day moving average in April 2017. In the same month, Kinder Morgan’s 50-day moving average fell below its 200-day average, which is considered a bearish indicator. So far, Kinder Morgan has fallen nearly 12% in 2017.
To learn how Williams Companies’ (WMB) indicators changed recently, read Williams Companies’ Recent Performance and Expectations.
In the next part, we’ll see how the short interest in Kinder Morgan changed.