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Bullish Moving Average Cross by Targa Resources (TRGP)

By Shiri Gupta

Targa Resources (NYSE:TRGP) crossed over its 10-day moving average of $47.00 on a volume of 113K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Targa Resources has traded in a range of $35.35 to $61.83 and is now at $47.13, 33% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.6% while the 200-day MA has slid 2.2%.

SmarTrend is monitoring the recent change of momentum in Targa Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Targa Resources in search of a potential trend change.

Keywords: moving crosses targa resources

Ticker(s): TRGP