The corporation engaged in midstream natural gas could reach the USD 127.4 resistance through coming sessions.

The company pushed its global presence the last year by 10% and possesses qualitative fundamentals. Sales are anticipated to rise 21% for the ongoing year. A positive movement has been followed by operating and net margins since which could continue at least during the next four years, this according to Thomson-Reuters estimates. An EBITDA of $838 million is anticipated by the end of the fiscal year 2014. Analysts keep posting higher EPS estimates as time passes. The last EPS average estimation was of $2.28 against $1.35 twelve months ago.

From a technical point of view, the security still trading within a rising wedge in the short and the long term. Increasing moving averages are supporting prices and give the feeling of a limited likelihood for a reversal to take place in the midterm. As prices continue growing at gradual paces, a upper trendline risks a breakout, leaving the way open to new all-time highs. If this scenario takes place, then shares could be trading inside the 114.8/127.4 trading range.

Thanks to good indicators, it seems relevant to take a long position in Targa Resources at current prices. The main target may be the USD 127.4 resistance and then the USD 133 one. However, a stop loss should be set under the entry point, at USD 108.5.