TALLGRASS ENERGY GP LP (TEGP) Stock Technical Analysis
NYSE:TEGP - New York Stock Exchange, Inc. - US8746961072
Taking everything into account, TEGP scores 6 out of 10 in our technical rating. TEGP has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
In the last month TEGP has a been trading in the 21.44 - 23.89 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
When comparing the performance of all stocks over the past year, TEGP turns out to be only a medium performer in the overall market: it outperformed 53% of all stocks.
TEGP is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so TEGP is lagging the market slightly.
Volume is considerably higher in the last couple of days.
Although the technical rating is only medium, TEGP does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 22.16, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
19.58
27.75
2 important support areas can be observed.
- Support @22.16 from a trend line in the daily time frame.
- A support zone ranging from 19.78 to 19.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 22.29 to 22.43. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 23.00 to 23.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @27.48 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for TEGP is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TEGP is up. |
| ChartMill Relative Strength | 53.71 | NEUTRAL | TEGP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of TEGP is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TEGP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of TEGP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.08 | NEUTRAL | The RSI value for TEGP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests TEGP has a negative trend. |
| Stochastics (14,3) | 49.03 | NEUTRAL | The Stochastics value for TEGP is a neutral value. |
| Average True Range in percent/ATR (20) | 3.14 | MEDIUM VOLATILITY | The ATR as a percentage value for TEGP suggests some volalility. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 22.44 | 22.15 | 0.29 (1.29%) | 25.00% |
| An entry @22.44. This is a Buy Stop order right above the resistance zone. | An exit @22.15. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.29 points, which is 1.29%. | For a 0.32% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of TEGP. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
22.16
-0.39 (-1.73%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.73%
1 Week-1.2%
2 Weeks1.89%
1 Month2.26%
3 Month16.51%
6 Month-13.91%
12 Month-12.86%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.73
ATR(20)%3.14%
ATR Inc26.23%
Range Today0.61
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS53.71
Mansfield-0.93
10 Day High23.89
10 Day Low21.6
20 Day High23.89
20 Day Low21.44
52 Week High28.94
52 Week Low17.14
CS1 End22.16
CR1 Start22.29
Volume & EV
DER(3)-3.23%
DER(5)-5.02%
Volume2.88M
Volume Incr828.11%
Vol(5)5.24M
Vol(50)950.69K