The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Wedge
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Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern.

A falling wedge pattern is a triangle formation with noticeable slant to the downside. It represents the loss of the downside momentum on each successive low and has a bullish bias. The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1
To confirm the loss of the downside momentum at the reversal point, see bullish divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.

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- 3/15/2024 -
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Kinder Morgan Inc (KMI) Technical Analysis

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Summary:
Weekly :Broken trend support lineOversold sectorBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving Average
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It was the negative week for the Kinder Morgan Inc (KMI). During the week, the KMI dropped -0.23 points, or -1.29%, and closed at 17.60 on Friday, March 15, 2024. Weekly volume was 15% above average.

KMI is a member of Utilities Sector. Utilities is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See KMI long-term trend chart]
A long-term uptrend had started on February 2, 2021 at 13.75 and reached 20.20 on June 8, 2022. KMI gained -6.45 points, or -46.91%, in 70 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (18.45) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See KMI medium-term trend chart]
A medium-term uptrend had started on June 17, 2022 at 15.77 and reached 19.36 on December 1, 2022. KMI gained -3.59 points, or -22.76%, in 23 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (16.01) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See KMI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See KMI short-term trend chart]
A short-term uptrend had started on October 4, 2023 at 15.89 and reached 18.24 on January 4, 2024. KMI gained -2.35 points, or -14.79%, in 92 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 16.61 and resistance is at 18.97. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See KMI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.67
Williams' Percentage Range (W%R) 51.30
Lane's Stochastic (%D-Slow) 60.85
Greed/Fear Indicator (GFI) 58.75
Moving Average Converg./Diverg. (MACD) 0.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.82
Williams' Percentage Range (W%R) 31.80
Lane's Stochastic (%D-Slow) 50.13
Greed/Fear Indicator (GFI) 56.19
Moving Average Converg./Diverg. (MACD) 0.04
Trading Signals
Description Value Chart
Weekly Trendline Resistance 18.97
Yearly Trendline Support 18.45
Upper Bollinger Band 18.14
Parabolic System 18.11
Daily Stochastic Crossing 17.79
Price 17.60
20 Day Moving Average 17.51
Weekly Stochastic Crossing 17.45
50 Day Moving Average 17.35
Monthly Trendline Resistance 17.23
Lower Bollinger Band 16.92
Weekly Trendline Support 16.61
Monthly Trendline Support 16.01
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Gas Utilities 56
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 16.47
Low Date 02/13/2024
High 18.11
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 18.97
Support 16.61
Low 15.89
Low Date 10/04/2023
High 18.24
High Date 01/04/2024
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 17.23
Support 16.01
Low 15.77
Low Date 06/17/2022
High 19.36
High Date 12/01/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 20.20
High Date 06/08/2022
Low 15.77
Low Date 06/17/2022
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 21.82
Support 18.45
Low 13.75
Low Date 02/02/2021
High 20.20
High Date 06/08/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.