Targa Resources Corp., (TRGP) owns, operates, acquires, & develops a portfolio of complementary domestic midstream infrastructure assets in Oil & Gas in North America. It operates in two segments, Gathering & processing, & Logistics & transportation. It is based in Houston, Texas, comes under Energy sector & trades as “TRGP” ticket at NYSE.
TRGP made an all-time low of $3.66 during global sell-off during March-2020. Above there, it favors upside in I of (III) sequence in weekly. Short term, it favors upside in ((5)) of I started from August-2024 low.
TRGP – Elliott Wave Latest Daily View:
In Weekly, above $3.66 low, it placed (I) at $81.50 high & (II) at $55.56 low. Within (I), it placed I at $26.17 high, II at $13.08 low, III at $58.18 high, IV at $47.57 low & finally V as (I) at $81.50 high in April-2022. Above (II) low, it started impulse I of (III) sequence in daily & expect short term upside to finish it. Within I sequence, it placed ((1)) as diagonal at $79.70 high, ((2)) at $64.85 low, ((3)) as extended move at $139.35 high & ((4)) at $122.56 low.
TRGP – Elliott Wave Latest Weekly View:
Above ((4)) low of $122.56, it favors upside in (1) of ((5)) and soon will correcting in (2). It expects correction later in (2) in 3, 7 or 11 swings against 5-August-2024 low before resume upside in (3). It favors short upside in ((5)) towards $143.42 – $154.54 area to finish I before correcting in II against July-2022 low. The pullback in II will provide the next buying opportunity in 3, 7 or 11 swings pullback.
Source: https://elliottwave-forecast.com/stock-market/trgp-continues-rally-bullish-sequence/