This article was published more than 7 years ago. Some information in it may no longer be current.
There are a number of patterns on the three-year chart that warrant consideration. The first is the downtrend that started in April of 2013 when the shares topped out just above $85.00. The retreat dragged the stock to a retest of support at $70.00 by March of 2014 where the MACD and the RSI signalled a buy. The bounce off the March lows has seen KMP break above the 50- and 200-day moving averages and the downtrend line. The issue at hand in the current environment is if the resistance at $80, which has been in place since October of 2013, can be overcome.