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
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.
Statistics
Support/Resistance Analysis
55.72
- 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.
- Resistance @78.64 from a horizontal line in the weekly time frame.
Setup Analysis
Setup Rating
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.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 78.65 | 72.32 | 6.33 (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.
TARGA RESOURCES CORP75.19
NYSE:TRGP (12/2/2022, 7:06:29 PM)+0.24 (+0.32%)
| GICS Sector | Energy | ||
| GICS Industry | Oil, Gas & Consumable Fuels | ||
| Today | 0.32% | 1 Week | 2.56% |
| 2 Weeks | 5.95% | 1 Month | 7.89% |
| 3 Month | 8% | 6 Month | -2.79% |
| ATR(14) | 2.34 | ATR(20)% | 3.34% |
| ATR Inc | -35.1% | Range Today | 1.57 |
| ST Trend | LT Trend | ||
| SMA(5) | SMA(10) | ||
| SMA(20) | SMA(50) | ||
| SMA(100) | SMA(200) |
| 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 |
| 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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