Will the inertia of inventory continue?
Kinder Morgan (KMI) moved over its 50-day sliding average on May 14th. Shares traded sideways for about two months, finding support around their 50-day moving average. If stocks stay above this average, this may be a sign of an upward trend in the short run. In particular, its 14-day RSI (relative power index) is ~ 61. RSI values above 70 show an overbought zone and indicate an impending reversal of the stock direction.
Kinder Morgan has risen 32% in 2019, surpassing peers during this period. The strength of crude oil prices partly supported the results of the energy sector so far this year. Crude oil prices rose to $ 66.3 a barrel in April. Currently, the price is about $ 62.6 a barrel.
Robust quarter-on-quarter results, improved commodity prices, and greater financial discipline have contributed to averaging outposts over broader markets in 2019. Despite rising prices, most mid-share prices remained at levels lower than before five years. Kinder Morgan's share price is less than half that of May 2015. The short interest rate at Kinder Morgan fell by 28,714 shares to 50.9 million shares on April 30. Shares of Kinder Morgan are traded at an attractive yield of ~ 5.0%, which is higher than most of the S & P 500 index. Read if the KMI assessment shows a potential impact? For more information.