TARGA RESOURCES CORP (TRGP) Stock Technical Analysis
NYSE:TRGP - New York Stock Exchange, Inc. - US87612G1013 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to TRGP. Although TRGP has been one of the better performers in the overall market, we have a mixed picture in the medium term time frame. But recently some decent action can be observed again.
TRGP has only a medium technical rating, but it does show 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 174.82. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 167.65, a Stop Loss order could be placed below this zone.
More info and screens
155.74
When analyzing the support we can see 2 important areas.
- A support zone ranging from 166.66 to 172.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 157.31 to 163.24. This zone is formed by a combination of multiple trend lines in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 174.82 to 175.85. 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.
- Resistance @188.09 from a trend 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 | NEUTRAL | NEUTRAL | The long term trend for TRGP is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TRGP is up. |
| ChartMill Relative Strength | 75.24 | POSITIVE | TRGP has a high relative strength, it outperformed 75.24% 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 | MIXED | The current price of TRGP is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.56 | NEUTRAL | The RSI value for TRGP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.82 | POSITIVE | The MACD value suggests TRGP has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 81.58 | OVERBOUGHT | The high Stochastics value suggests TRGP may be overbought. |
| 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) | 13.9 | NEGATIVE | The low ADX value for TRGP suggests a weak or negative 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 |
|---|---|---|---|
| 175.86 | 166.53 | 9.33 (5.31%) | 18.85% |
| An entry @175.86. This is a Buy Stop order right above the resistance zone. | An exit @166.53. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 9.33 points, which is 5.31%. | For a 1.00% total portfolio risk, you can invest 18.85% of your capital in this trade. |
- 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.
174.08
-0.3 (-0.17%)