When the Price of (TNK) Talks, People Listen
February 23, 2024, 23:56 pm ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for TNK
- Buy TNK slightly over 48.01 target 54.11 stop loss @ 47.87 Details
The technical summary data tells us to buy TNK near 48.01 with an upside target of 54.11. This data also tells us to set a stop loss @ 47.87 to protect against excessive loss in case the stock begins to move against the trade. 48.01 is the first level of support below 54.03 , and by rule, any test of support is a buy signal. In this case, support 48.01 would be being tested, so a buy signal would exist.
- Short TNK slightly under 54.11, target 48.01, stop loss @ 54.27 Details
The technical summary data is suggesting a short of TNK as it gets near 54.11 with a downside target of 48.01. We should have a stop loss in place at 54.27though. 54.11 is the first level of resistance above 54.03, and by rule, any test of resistance is a short signal. In this case, if resistance 54.11 is being tested, so a short signal would exist.
Swing Trading Plans for TNK
- Buy TNK slightly over 54.11, target 55.14, Stop Loss @ 53.95 Details
If 54.11 begins to break higher, the technical summary data tells us to buy TNK just slightly over 54.11, with an upside target of 55.14. The data also tells us to set a stop loss @ 53.95 in case the stock turns against the trade. 54.11 is the first level of resistance above 54.03, and by rule, any break above resistance is a buy signal. In this case, 54.11, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short TNK slightly near 54.11, target 48.01, Stop Loss @ 54.27. Details
The technical summary data is suggesting a short of TNK if it tests 54.11 with a downside target of 48.01. We should have a stop loss in place at 54.27 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 54.11, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for TNK
- Buy TNK slightly over 54.11, target 55.14, Stop Loss @ 53.98 Details
If 54.11 begins to break higher, the technical summary data tells us to buy TNK just slightly over 54.11, with an upside target of 55.14. The data also tells us to set a stop loss @ 53.98 in case the stock turns against the trade. 54.11 is the first level of resistance above 54.03, and by rule, any break above resistance is a buy signal. In this case, 54.11, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short TNK slightly near 54.11, target 53.11, Stop Loss @ 54.24. Details
The technical summary data is suggesting a short of TNK if it tests 54.11 with a downside target of 53.11. We should have a stop loss in place at 54.24 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 54.11, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Teekay Tankers Ltd. (TNK) available here: TNK.
TNK Ratings for February 23:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Strong |
| P1 |
0 |
0 |
48.01 |
| P2 |
53.11 |
55.14 |
54.11 |
| P3 |
56.26 |
58.51 |
60.73 |
AI Generated Signals for TNK
Blue = Current Price
Red= Resistance
Green = Support
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This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Teekay Tankers Ltd. (NYSE: TNK) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for TNK can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for TNK:
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