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Summit Midstream's 15min chart shows KDJ Death Cross, bearish Marubozu pattern.
ByAinvest
Friday, Aug 29, 2025 12:50 pm ET1min read
The 15-minute chart for Summit Midstream has triggered a KDJ Death Cross and a Bearish Marubozu at 12:45 PM on August 29, 2025. This indicates a shift in momentum towards the downside, with a potential for further decreases in stock price. The sellers currently control the market, and it is likely that bearish momentum will continue.
Summit Midstream Corp (SMC) has recently experienced a notable increase in its shareholding by Connect Midstream, LLC, a significant player in the energy sector. On August 26, 2025, Connect Midstream, LLC acquired 72,759 shares at a price of $20.46 per share. This was followed by another acquisition on August 27, 2025, where the company purchased an additional 47,401 shares at a price of $20.50 per share [1]. The total investment by Connect Midstream, LLC in Summit Midstream Corp's shares amounts to 120,160 shares.These transactions, reported under SEC Form 4, indicate a substantial increase in the company's beneficial ownership. The reported prices are weighted average prices, suggesting that the shares were acquired in multiple transactions at varying prices. The ownership structure of these shares is complex, involving entities such as Tailwater Energy Fund III LP, Tailwater Capital LLC, and individual directors Jason Downie and Edward Herring, who have disclaimed direct beneficial ownership of the reported securities, except to the extent of their pecuniary interest [1].
In addition to these share acquisitions, technical indicators have suggested a bearish trend for Summit Midstream Corp. On August 29, 2025, at 12:45 PM, the 15-minute chart for Summit Midstream triggered a KDJ Death Cross and a Bearish Marubozu. These indicators suggest a shift in momentum towards the downside, with a potential for further decreases in stock price. The sellers currently control the market, and it is likely that bearish momentum will continue.
Investors should monitor the developments closely, as these transactions and market signals may influence the company's future strategies and stock performance. While the increased ownership by Connect Midstream, LLC could indicate strategic alignment or support for the company's growth plans, the bearish market signals suggest caution.
References:
[1] https://www.stocktitan.net/sec-filings/SMC/form-4-summit-midstream-corporation-insider-trading-activity-aba75ef1e975.html
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