TARGA RESOURCES CORP (TRGP) Stock Technical Analysis
NYSE:TRGP • US87612G1013
Taking everything into account, TRGP scores 8 out of 10 in our technical rating. Although TRGP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- TRGP is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month TRGP has a been trading in the 179.76 - 225.35 range, which is quite wide. It is currently trading near the high of this range.
- TRGP has an average volume of 1384800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, TRGP did better than 78% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- TRGP is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 68% of 206 stocks in the same industry.
Although TRGP has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
167.81
When analyzing the support we can see 4 important areas.
- A support zone ranging from 187.67 to 191.62. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @179.31 from a trend line in the daily time frame.
- Strong support @174.81 from a horizontal line in the daily time frame.
- Support @169.50 from a horizontal line in the daily 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 | UP | POSITIVE | The long term trend for TRGP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TRGP is up. |
| ChartMill Relative Strength | 78.6 | POSITIVE | TRGP has a high relative strength, it outperformed 78.6% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TRGP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TRGP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TRGP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 78.79 | OVERBOUGHT | The high RSI value suggests TRGP may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.87 | POSITIVE | The MACD value suggests TRGP has a positive trend. |
| Stochastics (14,3) | 91.65 | OVERBOUGHT | The high Stochastics value suggests TRGP may be overbought. |
| Average True Range in percent/ATR (20) | 2.5 | MEDIUM VOLATILITY | The ATR as a percentage value for TRGP suggests some volalility. |
| Average Directional Index/ADX (14) | 45.33 | POSITIVE | The high ADX value value for TRGP suggests a strong trend. |
223.89
+5.63 (+2.58%)
TARGA RESOURCES CORP / TRGP FAQ
Can you provide the ChartMill technical rating for TARGA RESOURCES CORP?
ChartMill assigns a technical rating of 8 / 10 to TRGP.
What is the trend direction for TRGP stock?
The current trend direction for TARGA RESOURCES CORP (TRGP) is Bullish.
Can you provide the RSI signal for TARGA RESOURCES CORP?
TARGA RESOURCES CORP (TRGP) has an RSI value of 78.7914. This indicates that the stock is currently overbought.
What is the MACD signal for TARGA RESOURCES CORP (TRGP) stock?
The MACD indicator for TARGA RESOURCES CORP (TRGP) has a value of 1.86723, indicating a bullish trend.
What are the support and resistance levels for TARGA RESOURCES CORP (TRGP) stock?
TARGA RESOURCES CORP (TRGP) has a support level at 191.62. Check the full technical report for our detailed analysis of TRGP support and resistance levels.