TSAKOS ENERGY NAVIGATION LTD (TNP) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:TNP - BMG9108L1735 - Common Stock
Taking everything into account, TNP scores 9 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
Besides having an excellent technical rating, TNP also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 28.96, a Stop Loss order could be placed below this zone.
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22.35
When analyzing the support we can see 3 important areas.
- A support zone ranging from 28.03 to 28.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @27.41 from a trend line in the daily time frame.
- Support @22.58 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 29.41 to 29.84. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 31.20 to 31.38. 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 TNP is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for TNP is neutral. |
| ChartMill Relative Strength | 94.24 | POSITIVE | TNP has a high relative strength, it outperformed 94.24% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of TNP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TNP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TNP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.98 | NEUTRAL | The RSI value for TNP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.12 | NEGATIVE | The MACD value suggests TNP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 62.48 | NEUTRAL | The Stochastics value for TNP is a neutral value. |
| Average True Range in percent/ATR (20) | 3.13 | MEDIUM VOLATILITY | The ATR as a percentage value for TNP suggests some volalility. |
| Average Directional Index/ADX (14) | 32.26 | POSITIVE | The high ADX value value for TNP 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 |
|---|---|---|---|
| 29.85 | 28.02 | 1.83 (6.13%) | 16.31% |
| An entry @29.85. This is a Buy Stop order right above the resistance zone. | An exit @28.02. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.83 points, which is 6.13%. | When investing 16.31% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
29.28
-0.16 (-0.54%)
TSAKOS ENERGY NAVIGATION LTD / TNP FAQ
What is the ChartMill technical rating of TSAKOS ENERGY NAVIGATION LTD (TNP) stock?
ChartMill assigns a technical rating of 9 / 10 to TNP.
Can you provide the trend direction for TSAKOS ENERGY NAVIGATION LTD?
The current trend direction for TSAKOS ENERGY NAVIGATION LTD (TNP) is Bullish.
What is the RSI signal for TNP stock?
TSAKOS ENERGY NAVIGATION LTD (TNP) has an RSI value of 48.975. This indicates that the stock is currently neutral.
What is the short term momentum for TSAKOS ENERGY NAVIGATION LTD (TNP) stock?
The short term momentum for TSAKOS ENERGY NAVIGATION LTD (TNP) is neutral.
What are the support and resistance levels for TSAKOS ENERGY NAVIGATION LTD (TNP) stock?
TSAKOS ENERGY NAVIGATION LTD (TNP) has a support level at 28.96 and a resistance level at 29.41. Check the full technical report for our detailed analysis of TNP support and resistance levels.