Kinder Morgan Booked a New High

Published on Tuesday, 21 February 2012 12:34 Written by TradersHuddle Wire

New York, February 21st (TradersHuddle.com) - Shares of Kinder Morgan Energy Partners, L.P. (NYSE:KMP) booked a new 52 week high today by trading above $90, traders are definitely monitoring Kinder Morgan's price action to see if this move attracts further buying into the stock.

Kinder Morgan Energy Partners, L.P. (NYSE:KMP) is a pipeline transportation and energy storage company. The Company operates pipelines and terminals. The pipelines transport natural gas, gasoline, crude oil, carbon dioxide and other products; and its terminals store petroleum products and chemicals, and handle bulk materials like coal and petroleum coke.

Kinder Morgan is currently trading 0.46% versus its previous trading session close, and it has calculated support and resistance at $83.48 and $89.74 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.34% from its previous trading close, which means that Kinder Morgan stock is outperforming the overall market.