TALLGRASS ENERGY GP LP (TEGP) Technical Analysis
NYSE:TEGP • US8746961072
Current stock price
TEGP Technical Rating and Analysis
Taking everything into account, TEGP scores 6 out of 10 in our technical rating. In the past year, TEGP was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
- 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 currently trading near new highs, so TEGP is lagging the market.
- Volume is considerably higher in the last couple of days.
TEGP Weekly and Daily overview Charts
TEGP Setup Rating and Analysis
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. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
TEGP Support and Resistance Analysis
19.58
When analyzing the support we can see 2 important areas.
- 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.
We can see 3 important resistance 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.
TEGP Technical Indicator Signal Analysis
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. |
TEGP Chart- and CandleStick Pattern Analysis
TEGP Example Setup
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.
TEGP Technicals: Chart, Performance Metrics, Trend & Indicators
22.16
-0.39 (-1.73%)
TALLGRASS ENERGY GP LP / TEGP TA FAQ
Can you provide the ChartMill technical rating for TALLGRASS ENERGY GP LP?
ChartMill assigns a technical rating of 6 / 10 to TEGP.
What is the trend direction for TEGP stock?
The current trend direction for TALLGRASS ENERGY GP LP (TEGP) is Bearish.
What is the RSI signal for TEGP stock?
TALLGRASS ENERGY GP LP (TEGP) has an RSI value of 51.0824. This indicates that the stock is currently neutral.
Can you provide the support and resistance levels for TALLGRASS ENERGY GP LP?
TALLGRASS ENERGY GP LP (TEGP) has a support level at 22.16 and a resistance level at 22.29. Check the full technical report for our detailed analysis of TEGP support and resistance levels.