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Targa Resources Crosses Above its 10-day MA (TRGP)

By Amy Schwartz

Targa Resources (NYSE:TRGP) shares have crossed bullishly above their 10-day moving average of $43.61 on a volume of 162K 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 $43.75, 24% above that low. The 200-day and 50-day moving averages have moved 2.21% lower and 4.58% higher over the past week, respectively.

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