Stocks are continuing to decline today and Kinder Morgan Energy Partners LP (NYSE:KMP) is no exception. This pipeline transportation and energy storage company has seen a nice decline since putting in a high of $84.98 last week. While it may look oversold and ready to bounce to some. I will look slightly lower on the chart to around the $78.15 level as a good entry point for a long trade. That is where Kinder Morgan Energy Partners LP (NYSE:KMP) could see a nice bounce and traders could be able to profit on the long side. Watch this level, keep it on your charts and be ready to act when the time is right.
For live market insight and alerts exactly when we enter and exit positions... step inside the Elite Round Table and enter profitable trades live with the proven Pro's. You can also join our FREE market moving email list to get free updates ONLY when important action is happening. We look forward to having you join us as we navigate the markets and make money!
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader
Join the Elite Round Table on Facebook
For live market insight and alerts exactly when we enter and exit positions... step inside the Elite Round Table and enter profitable trades live with the proven Pro's. You can also join our FREE market moving email list to get free updates ONLY when important action is happening. We look forward to having you join us as we navigate the markets and make money!
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader
Join the Elite Round Table on Facebook