TARGA RESOURCES CORP (TRGP)       75.19  +0.24 (+0.32%)

75.19  +0.24 (+0.32%)

US87612G1013 - Common Stock - After market: 75.19 0 (0%)

Technical Rating

10

Overall TRGP gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TRGP is showing a nice and steady performance.



The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, TRGP did better than 94% of all other stocks. On top of that, TRGP also shows a nice and consistent pattern of rising prices.
TRGP is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so TRGP slightly outperforms the market at the moment.
In the last month TRGP has a been trading in the 68.25 - 76.13 range, which is quite wide. It is currently trading near the high of this range.
TRGP has an average volume of 2767630 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
TRGP is part of the Oil, Gas & Consumable Fuels industry. There are 391 other stocks in this industry, TRGP did better than 64% of them.
Considerably lower volume is observed in the last couple of days.

Statistics

1 Month 3 Months 6 Months 12 Months 7.89% 8.00% -2.79% 46.74% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 94.58 47.57 - 81.5
TRGP Weekly chart
TRGP Daily chart

Support/Resistance Analysis


55.72

79.43
5 important support areas can be observed.
  • A support zone ranging from 72.33 to 73.42. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 69.82 to 70.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @63.53 from a trend line in the weekly time frame.
  • Support @57.80 from a horizontal line in the daily time frame.
  • Support @56.28 from a horizontal line in the daily time frame.
We found 1 important resistance area.
  • Resistance @78.64 from a horizontal line in the weekly time frame.

Setup Analysis

Setup Rating

9

Besides having an excellent technical rating, TRGP also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 73.42, 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.

Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
78.6572.326.33 (8.05%)12.42%
An entry @78.65. This is a Buy Stop order right above the resistance zone.An exit @72.32. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 6.33 points, which is 8.05%.When investing 12.42% of your capital in this trade, your total portfolio risk will be 1.00%.

  • 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.
TRGP Daily chart

TARGA RESOURCES CORP75.19

NYSE:TRGP (12/2/2022, 7:06:29 PM)+0.24 (+0.32%)

After market: 75.19 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Energy
GICS Industry Oil, Gas & Consumable Fuels
Performance
Today 0.32% 1 Week 2.56%
2 Weeks 5.95% 1 Month 7.89%
3 Month 8% 6 Month -2.79%
Volatility
ATR(14) 2.34 ATR(20)% 3.34%
ATR Inc -35.1% Range Today 1.57
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 94.58 Mansfield 1.47
10 Day High 76.13 10 Day Low 68.27
20 Day High 76.13 20 Day Low 68.25
52 Week High 81.5 52 Week Low 47.57
CS1 End 73.42 CR1 Start 78.64
Volume & EV
DER(3) 0.13% DER(5) 2.32%
Volume 1.14M Volume Incr 7.53%
Vol(5) 1.66M Vol(50) 2.77M

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