KMI, a stock that’s rather under the radar has been gradually climbing as of last week broken out of a 2 month consolidation and is looking to continue its trend moving higher. Forming a solid confirmation candle last Friday, I will be setting a pending order around its highest trading price of $21.87.
Plotting a Fibonacci Extension in its recent impulse move created during Earnings and Dividends news, the highest i’d hold the position would be around $23.75. A further confidence boost is given as ‘Argus’ and recently ‘Morgan Stanley’ setting the price target for KMI at $24. Therefore to assume holding it to our target price seems like a safe bet.
Plotting a Fibonacci Extension in its recent impulse move created during Earnings and Dividends news, the highest i’d hold the position would be around $23.75. A further confidence boost is given as ‘Argus’ and recently ‘Morgan Stanley’ setting the price target for KMI at $24. Therefore to assume holding it to our target price seems like a safe bet.
Trade active
Price reaching our first target of 22.50 🚀Trade closed: target reached
TP reached!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.