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After Yesterday's Rally of 2.00% Shares Could Potentially Pullback

By David Diaz

Targa Resources (NYSE:TRGP) traded in a range yesterday that spanned from a low of $54.13 to a high of $55.24. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $54.88 on volume of 663,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 14.7%. We continue to monitor TRGP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Targa Resources have traded between a low of $39.59 and a high of $56.42 and are now at $55.14, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.4%.

Keywords: rebounders targa resources

Ticker(s): TRGP