TARGA RESOURCES CORP (TRGP) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:TRGP - US87612G1013 - Common Stock
Taking everything into account, TRGP scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, TRGP is a bad performer.
TRGP has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 175.32. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 174.81, a Stop Loss order could be placed below this zone.
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151.50
When analyzing the support we can see 3 important areas.
- A support zone ranging from 174.81 to 174.81. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 166.03 to 171.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @153.03 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 175.32 to 175.32. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @179.25 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 | 32.02 | 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) | 65.46 | NEUTRAL | The RSI value for TRGP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.37 | POSITIVE | The MACD value suggests TRGP has a positive trend. |
| Stochastics (14,3) | 77.98 | NEUTRAL | The Stochastics value for TRGP is a neutral value. |
| Average True Range in percent/ATR (20) | 2.9 | MEDIUM VOLATILITY | The ATR as a percentage value for TRGP suggests some volalility. |
| Average Directional Index/ADX (14) | 30.55 | POSITIVE | The high ADX value value for TRGP suggests a strong trend. |
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 |
|---|---|---|---|
| 175.33 | 174.80 | 0.53 (0.30%) | 25.00% |
| An entry @175.33. This is a Buy Stop order right above the resistance zone. | An exit @174.80. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.53 points, which is 0.30%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.08%. |
- The distance between exit and entry is rather small compared to the average daily movement of TRGP. 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.
175.31
+2.18 (+1.26%)
TARGA RESOURCES CORP / TRGP FAQ
Can you provide the ChartMill technical rating for TARGA RESOURCES CORP?
ChartMill assigns a technical rating of 7 / 10 to TRGP.
What is the current trend direction of TARGA RESOURCES CORP (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 65.4623. This indicates that the stock is currently neutral.
Can you provide the MACD signal for TARGA RESOURCES CORP?
The MACD indicator for TARGA RESOURCES CORP (TRGP) has a value of 0.374251, indicating a bearish trend.
Can you provide the buy/sell signal for TARGA RESOURCES CORP?
The buy/sell signal for TARGA RESOURCES CORP (TRGP) is buy as both the short term and long term trends are positive.