TC ENERGY CORP (TRP) Stock Technical Analysis
NYSE:TRP - New York Stock Exchange, Inc. - CA87807B1076 - Common Stock - Currency: USD
Taking everything into account, TRP scores 7 out of 10 in our technical rating. In the last year, TRP was one of the better performers, but we do observe some doubts in the very recent evolution.
TRP has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 48.37, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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.
More info and screens
43.59
We found 3 important support areas.
- Support @48.37 from a horizontal line in the daily time frame.
- Support @47.54 from a trend line in the weekly time frame.
- A support zone ranging from 44.03 to 45.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 49.92 to 51.41. This zone is formed by a combination of multiple trend lines and important moving averages 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 TRP is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for TRP is neutral. |
| ChartMill Relative Strength | 83.09 | POSITIVE | TRP has a high relative strength, it outperformed 83.09% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of TRP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TRP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TRP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 46.82 | NEUTRAL | The RSI value for TRP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.17 | NEGATIVE | The MACD value suggests TRP has a negative trend. |
| Stochastics (14,3) | 22.72 | NEUTRAL | The Stochastics value for TRP is a neutral value. |
| Average True Range in percent/ATR (20) | 1.55 | LOW VOLATILITY | The low ATR as a percentage value for TRP suggests low volalility. |
| Average Directional Index/ADX (14) | 15.01 | NEGATIVE | The low ADX value for TRP 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 |
|---|---|---|---|
| 50.45 | 49.06 | 1.39 (2.76%) | 25.00% |
| An entry @50.45. This is a Buy Stop order right above the 10 day moving average. | An exit @49.06. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.39 points, which is 2.76%. | For a 0.69% total portfolio risk, you can invest 25.00% 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.
49.57
-0.47 (-0.94%)