TARGA RESOURCES CORP (TRGP) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:TRGP - US87612G1013 - Common Stock
We assign a technical rating of 8 out of 10 to TRGP. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, TRGP is only an average performer.
- Both the short term and long term trends are positive. This is a very positive sign.
- TRGP has an average volume of 1472510 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the performance of all stocks over the past year, TRGP turns out to be only a medium performer in the overall market: it outperformed 54% of all stocks.
- TRGP is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 59% of 208 stocks in the same industry.
- TRGP is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so TRGP is lagging the market.
- In the last month TRGP has a been trading in the 173.57 - 190.00 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
TRGP has an excellent technical rating, but the quality of the setup is only medium 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
We found 2 important support areas.
- A support zone ranging from 174.54 to 181.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @169.50 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 185.73 to 186.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 54.08 | NEUTRAL | TRGP is not amongst the best or worst performers 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) | DOWN | MIXED | The current price of TRGP is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.52 | NEUTRAL | The RSI value for TRGP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.12 | NEGATIVE | The MACD value suggests TRGP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 59.55 | NEUTRAL | The Stochastics value for TRGP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.52 | MEDIUM VOLATILITY | The ATR as a percentage value for TRGP suggests some volalility. |
| Average Directional Index/ADX (14) | 22.42 | NEUTRAL | The ADX value for TRGP suggests a possible start of a new trend. |
185.35
+3.42 (+1.88%)
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 58.5195. This indicates that the stock is currently neutral.
What is the MACD signal for TARGA RESOURCES CORP (TRGP) stock?
The MACD indicator for TARGA RESOURCES CORP (TRGP) has a value of -0.124199, indicating a bearish trend.
What are the support and resistance levels for TARGA RESOURCES CORP (TRGP) stock?
TARGA RESOURCES CORP (TRGP) has a support level at 181.37 and a resistance level at 185.73. Check the full technical report for our detailed analysis of TRGP support and resistance levels.