Targa Resources Corp has still an uptrend and is going toward its highest level.

The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Moreover, the revisions of the future benefits are revised upward month after month. The growth potential of the company is impressive.

From a technical viewpoint, the security is trading in a bullish trend in all time scales. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the USD 150 resistance and then the trendline at USD 160/170.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible acceleration. The first target price is the USD 150 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the USD 132.9 short term support, threshold that would invalidate this trading strategy.