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After Yesterday's Decline of 1.09%, Targa Resources Offers Investors Better Value

By Nick Russo

Targa Resources (NYSE:TRGP) traded in a range yesterday that spanned from a low of $54.68 to a high of $56.56. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $54.69 on volume of 619,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Targa Resources have traded between a low of $39.59 and a high of $59.21 and are now at $55.13, which is 39% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of Targa Resources on April 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.15. Since that recommendation, shares of Targa Resources have risen 17.3%. We continue to monitor TRGP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders targa resources

Ticker(s): TRGP