Targa Resources Prtn Units (NGLS) – Added to Watch List for Long Setup

2 May

Added Targa Resources (NGLS) to my watchlist tonight.

The stock has pulled back to the 50 day moving average after hitting an all time high of $49.24 on 4/22. Today’s closing candle shows a potential reversal sitting on the 50 day moving average as well as support at $44.45 . If we open up tomorrow on NGLS stock, I may look to go long with a stop at $44.35 – slightly below the low of yesterday’s candle.

Here is Targa Resources’s stock chart for today:

Targa Resources Stock Chart - May 2, 2013

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