Thursday, December 3, 2015
GPRO - KMI - TRVN
This stock has followed a well defined downward channel for the past three months. Bulls need to hope that the upper resistance line is breached, which would signify a reversal of this bearish trend. Until this happens, expect more downside.
Things look pretty dire for KMI. Not only is the stock on a free fall since March, it keeps making new all time lows. Most recently, the stock broke through a key support level and is making new lows on the heels of very high volume. This is very bearish behavior.
If you are trading TRVN due to the news of fast track designation, I don’t blame you. The stock has been up nicely lately, and this news could really set it off higher. Just be aware that there are two key resistance points ahead. First at $13 and then at $13.50. If both are breached, this stock could soar!