Will KINDER MORGAN INC Break Out? A Technical Analysis Perspective.

Our stock screener has detected a potential breakout setup on KINDER MORGAN INC (NYSE:KMI). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:KMI.

Technical Analysis Observations

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, KMI scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, KMI is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that KMI is one of the better performing stocks in the market, outperforming 78% of all stocks.
• KMI is part of the Oil, Gas & Consumable Fuels industry. There are 207 other stocks in this industry. KMI outperforms 84% of them.
• KMI is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so KMI is lagging the market slightly.
• In the last month KMI has a been trading in the 19.68 - 21.86 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of KMI contains the most current technical analsysis.

How do we evaluate the setup for NYSE:KMI?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:KMI has a 8 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, KMI also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 21.09, a Stop Loss order could be placed below this zone.

How to trade NYSE:KMI?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NYSE:KMI and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.