An inverse Head and Shoulders pattern has formed on TRGP. I will look to open a Long swing trade once it breaks $46.
Targa should thrive in the year coming NatGas demand and exporting will rise Small amount of business is in crude Buying 100 shares at market on Monday Stop loss is 47.00
Given the fact that RSI will continue trending TRGA will overcome the Resistance area 56 - 59 and if it does the first target should be the upper trend channel where also a little resistance exists at 61-62, A second and final targe should be > 83 - 93 major resistance.
Long to 60 conservatively, 70 aggressively
A lot of white candles on the weekly chart (in a row) is my 'only hesitation' on the trade, but that's not going to stop me. I'll just know why it didn't work, if it doesn't.
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Long if it breaks 108 otherwise. Short to 86.50