Teekay Tankers Ltd Stock Forecast
Teekay Tankers Ltd stock price up 0.730% on Tuesday
(Updated on May 07, 2024)
The Teekay Tankers Ltd stock price gained 0.730% on the last trading day (Tuesday, 7th May 2024), rising from $60.27 to $60.71. During the last trading day the stock fluctuated 1.86% from a day low at $60.19 to a day high of $61.31. The price has risen in 6 of the last 10 days and is up by 7.51% over the past 2 weeks. Volume fell on the last day by -85 thousand shares and in total, 163 thousand shares were bought and sold for approximately $9.89 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $62.09 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.00% during the next 3 months and, with a 90% probability hold a price between $57.75 and $65.19 at the end of this 3-month period.
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TNK Signals & Forecast
Mostly positive signals in the chart today. The Teekay Tankers Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $59.41 and $57.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 9.35%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, October 06, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, October 06, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Teekay Tankers Ltd stock
Teekay Tankers Ltd finds support from accumulated volume at $57.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.12 (1.86%) between high and low. For the last week, the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: $58.37 (-3.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (TNK) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Teekay Tankers Ltd to open at $60.74, and during the day (based on 14 day Average True Range), to move between $59.19 and $62.23, which gives a possible trading interval of +/-$1.52 (+/-2.50%) up or down from last closing price. If Teekay Tankers Ltd takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $60.86 (0.25%) than the support at $57.68 (4.99%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Teekay Tankers Ltd will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.80. We will update the financials statements for Teekay Tankers Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.54% in the first trading day after earnings release.
Is Teekay Tankers Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Teekay Tankers Ltd stock to perform well in the short-term.
Current score: 2.747 Buy Candidate Unchanged
Predicted Opening Price for Teekay Tankers Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $60.74 ( 0.0439%) | $60.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 61.86 | 1.89 % | |
| R2 | 61.43 | 1.18 % | ||
| R1 | 61.16 | 0.749 % | ||
| Current price: | 60.71 | |||
| Support | S1 | 60.31 | -0.661 % | |
| S2 | 60.04 | -1.10 % | ||
| S3 | 59.62 | -1.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 60.93 | 0.362 % | ||
| R1 | 60.86 | 0.247 % | ||
| Current price | 60.71 | |||
| Support | S1 | 57.68 | -4.99% | |
| S2 | 56.91 | -6.26% | ||
| S3 | 54.78 | -9.77% |
TNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Mar 01, 2024 | Mar 15, 2024 | $0.250 | 0.448% |
| 2 | Nov 02, 2023 | Nov 13, 2023 | Nov 27, 2023 | $0.250 | 0.481% |
| 3 | Aug 03, 2023 | Aug 11, 2023 | Aug 25, 2023 | $0.250 | 0.608% |
| 4 | May 11, 2023 | May 19, 2023 | Jun 02, 2023 | $1.25 | 3.31% |
| 5 | Feb 22, 2018 | Mar 02, 2018 | Nov 25, 2019 | $0.240 | 1.22% |
FAQ
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