Technical indicators signal a Rectangle forming. Verify the setup on the chart.
Sideways movement between parallel supports.
Reversal pattern. Price likely to break downwards.
Consolidation. Can break either way.
Bullish continuation if preceding move was up.
Bullish continuation pattern.
A clear signal has emerged for Targa Resources (TRGP) on the daily chart. The stock is trading at $239.28, down 0.51% on the day. Price action has carved out a classic Bullish Flag. The trend indicator is reading 18.5/100, suggesting moderate momentum. A potential breakout level is identified at $253.87, targeting $328.87 with support near $233.73 (R:R 3.72).
What is your outlook on TRGP?