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Should You Buy Targa Resources Corp (TRGP) Stock After it Has Risen 16.50% in a Week?

Thursday, January 07, 2021 03:05 PM | InvestorsObserver Analysts

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Should You Buy Targa Resources Corp (TRGP) Stock After it Has Risen 16.50% in a Week?

Targa Resources Corp (TRGP) stock has gained 16.50% over the past week and gets a Bullish rating from InvestorsObserver's Sentiment Indicator.

Sentiment Score - ,bullish
Targa Resources Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on TRGP!

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With TRGP Stock Today?

Targa Resources Corp (TRGP) stock is trading at $30.50 as of 3:01 PM on Thursday, Jan 7, a gain of $1.95, or 6.83% from the previous closing price of $28.55. The stock has traded between $28.70 and $30.52 so far today. Volume today is elevated. So far 2,905,640 shares have traded compared to average volume of 2,162,065 shares.

To see InvestorsObserver's Sentiment Score for Targa Resources Corp click here.

More About Targa Resources Corp

Targa Resources is a midstream firm that primarily operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has over 850 bbl/d of net fractionation capacity and operates an LPG export terminal. The Grand Prix natural gas liquids pipeline also recently entered full service.

Click Here to get the full Stock Score Report on Targa Resources Corp (TRGP) Stock.

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