TEEKAY TANKERS LTD-CLASS A (TNK) Stock Technical Analysis
USA - NYSE:TNK - BMG8726X1065 - Common Stock
Overall TNK gets a technical rating of 9 out of 10. Both in the recent history as in the last year, TNK has proven to be a steady performer, scoring decent points in every aspect analyzed.
TNK has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 61.01. Right above this resistance zone may be a good entry point.
More info and screens
48.75
3 important support areas can be observed.
- Support @58.83 from a horizontal line in the daily time frame.
- A support zone ranging from 51.06 to 51.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @49.24 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 61.01 to 61.11. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for TNK is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TNK is up. |
| ChartMill Relative Strength | 90.18 | POSITIVE | TNK has a high relative strength, it outperformed 90.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TNK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TNK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TNK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.03 | NEUTRAL | The RSI value for TNK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.21 | POSITIVE | The MACD value suggests TNK has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 92.46 | OVERBOUGHT | The high Stochastics value suggests TNK may be overbought. |
| Average True Range in percent/ATR (20) | 3.35 | MEDIUM VOLATILITY | The ATR as a percentage value for TNK suggests some volalility. |
| Average Directional Index/ADX (14) | 30.59 | POSITIVE | The high ADX value value for TNK suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 61.12 | 58.82 | 2.30 (3.76%) | 25.00% |
| An entry @61.12. This is a Buy Stop order right above the resistance zone. | An exit @58.82. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 2.30 points, which is 3.76%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.94%. |
- The distance between exit and entry is rather small compared to the average daily movement of TNK. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
60.94
-0.16 (-0.26%)
TEEKAY TANKERS LTD-CLASS A / TNK FAQ
What is the ChartMill technical rating of TEEKAY TANKERS LTD-CLASS A (TNK) stock?
ChartMill assigns a technical rating of 9 / 10 to TNK.
Can you provide the trend direction for TEEKAY TANKERS LTD-CLASS A?
The current trend direction for TEEKAY TANKERS LTD-CLASS A (TNK) is Bullish.
What is the RSI signal for TEEKAY TANKERS LTD-CLASS A (TNK) stock?
TEEKAY TANKERS LTD-CLASS A (TNK) has an RSI value of 66.03. This indicates that the stock is currently neutral.
What is the MACD signal for TEEKAY TANKERS LTD-CLASS A (TNK) stock?
The MACD indicator for TEEKAY TANKERS LTD-CLASS A (TNK) has a value of 0.207584, indicating a bearish trend.
What are the support and resistance levels for TEEKAY TANKERS LTD-CLASS A (TNK) stock?
TEEKAY TANKERS LTD-CLASS A (TNK) has a support level at 58.83 and a resistance level at 61.01. Check the full technical report for our detailed analysis of TNK support and resistance levels.