The bearish DailyPlay we chose for Friday August 14th is Kinder Morgan, Inc. (KMI). KMI is part of the Energy Sector (XLE). XLE is in a strong bearish trend and experienced a 3.99% move lower over the last month. XLE’s 1-month trend returned back to bearish today.
Kinder Morgan, Inc. has been in strong bearish trend since the beginning of June. After bouncing lower off its $34.39 resistance level with a technical score of 2 (out of 10), KMI looks positioned to continue lower towards $31.00.