Kinder Morgan KMI-N declined from $22.58 to $9.42 in 2020 (A-B), had a recovery rally in 2021 (C) followed by a wide horizontal trading range mostly between $16 and $20 (dashed lines). The recent rise above this range is positive and suggests a breakout (D). A sustained rise above $22-23 would confirm it.
Behaviour indicators including the rising 40-week Moving Average (40wMA) and the rising trendline (solid line) confirm the bullish status. There is good support near $19.50-20.00; only a sustained decline below this level would be negative.
Point & Figure measurements provide targets of $24 and $27. The large trading range (dashed liens) supports higher targets.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com