How the (TNK) price action is used to our Advantage
March 16, 2024, 02:50 am ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for TNK
- Buy TNK slightly over 55.66 target 61.76 stop loss @ 55.5 Details
The technical summary data tells us to buy TNK near 55.66 with an upside target of 61.76. This data also tells us to set a stop loss @ 55.5 to protect against excessive loss in case the stock begins to move against the trade. 55.66 is the first level of support below 55.75 , and by rule, any test of support is a buy signal. In this case, support 55.66 is being tested, a buy signal would exist.
- Short TNK slightly under 61.76, target 55.66, stop loss @ 61.94 Details
The technical summary data is suggesting a short of TNK as it gets near 61.76 with a downside target of 55.66. We should have a stop loss in place at 61.94though. 61.76 is the first level of resistance above 55.75, and by rule, any test of resistance is a short signal. In this case, if resistance 61.76 is being tested, a short signal would exist.
Swing Trading Plans for TNK
- Buy TNK slightly over 61.76, target n/a, Stop Loss @ 61.58 Details
If 61.76 begins to break higher, the technical summary data tells us to buy TNK just slightly over 61.76, with an upside target of n/a. The data also tells us to set a stop loss @ 61.58 in case the stock turns against the trade. 61.76 is the first level of resistance above 55.75, and by rule, any break above resistance is a buy signal. In this case, 61.76, 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 61.76, target 55.66, Stop Loss @ 61.94. Details
The technical summary data is suggesting a short of TNK if it tests 61.76 with a downside target of 55.66. We should have a stop loss in place at 61.94 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, 61.76, 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 61.76, target n/a, Stop Loss @ 61.62 Details
If 61.76 begins to break higher, the technical summary data tells us to buy TNK just slightly over 61.76, with an upside target of n/a. The data also tells us to set a stop loss @ 61.62 in case the stock turns against the trade. 61.76 is the first level of resistance above 55.75, and by rule, any break above resistance is a buy signal. In this case, 61.76, 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 61.76, target 55.66, Stop Loss @ 61.9. Details
The technical summary data is suggesting a short of TNK if it tests 61.76 with a downside target of 55.66. We should have a stop loss in place at 61.9 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, 61.76, 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 March 16:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Strong |
| P1 |
0 |
0 |
50.17 |
| P2 |
53.53 |
52.78 |
55.66 |
| P3 |
54.62 |
54.1 |
61.76 |
AI Generated Signals for TNK
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Teekay Tankers Ltd. (NYSE: TNK) data table below can help you with price action, and we have more details too. Trading plans for TNK are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for TNK:
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