Targa Resources Technical Analysis (NYSE:TRGP)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. Just by looking at the Targa Resources stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the TRGP stock chart which creates a trading signal.
You can view Simple Moving Average - SMA 20 day, 50 day & 100 day, Exponential Moving Average - EMA 20 day, 50 day & 100 day charts, and Bollinger Bands for Targa Resources. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Targa Resources stock analysis.
Targa Resources Moving Average
Moving averages show the TRGP stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. The 20 day moving average of $46.24 is below the last closing price of $47.5 and the 50 day moving average of $47.74 is above the last closing price of $47.5. The 10 and 20 day periods can predict short term moving average trends.
Targa Resources Bollinger Bands
Bollinger bands comprise of a center line usually TRGP SMA, and two TRGP stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Targa Resources bollinger bands show that the stock price is $47.5, upper band is 47.93, lower band is 44.54, and the average is 46.24.
Targa Resources Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Targa Resources MACD line is above the signal line.
Targa Resources Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. 60.5 is the RSI value of TRGP stock.