TEEKAY OFFSHORE PARTNERS L P (TOO) Stock Technical Analysis
NYSE:TOO - New York Stock Exchange, Inc. -
Taking everything into account, TOO scores 6 out of 10 in our technical rating. In the last year, TOO was one of the better performers, but we do observe some doubts in the very recent evolution.
Although the technical rating is only medium, TOO does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. 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 1.55. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.54, a Stop Loss order could be placed below this zone.
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1.19
We found 3 important support areas.
- A support zone ranging from 1.52 to 1.54. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 1.29 to 1.30. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 1.20 to 1.20. This zone is formed by a combination of multiple trend lines in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 1.55 to 1.55. This zone is formed by a combination of multiple trend lines and important moving averages 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 TOO is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for TOO is neutral. |
| ChartMill Relative Strength | 80.64 | POSITIVE | TOO has a high relative strength, it outperformed 80.64% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of TOO is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TOO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of TOO is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.79 | NEUTRAL | The RSI value for TOO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests TOO has a negative trend. |
| Stochastics (14,3) | 77.78 | NEUTRAL | The Stochastics value for TOO is a neutral value. |
| Average True Range in percent/ATR (20) | 0.66 | LOW VOLATILITY | The low ATR as a percentage value for TOO suggests low volalility. |
1.545
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