Kinder Morgan (KMI) – Oil Hits Rock Bottom – Jan 31st, 2020
Bullish: KMI $21.42 – Energy
IV Rank: 31%
The bullish DailyPlay we chose for Friday, Jan 31st is Kinder Morgan (KMI). KMI is part of the Energy Sector (XLE). XLE has decline 7.60% lower over the past month and its 1m and 6m trend turned bearish on Jan 22th but recently bounced higher off its $54 support level.
Kinder Morgan’s 1m and 6m trend bullish yesterday while bouncing higher off its $21 support level. With a technical score of 5 (out of 10), KMI is a neutral stock that is starting to turn higher.
As a stop loss, if KMI was to trade below $21 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
Thursday, Feb 6th @ 4:15PM EST – The Benefits of Trading Options