RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of TNK
Powered by GPT-4o
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Teekay Tankers Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jul 22, 2024)

Hold candidate since Jul 22, 2024 PDF

The Teekay Tankers Ltd stock price gained 4.54% on the last trading day (Monday, 22nd Jul 2024), rising from $62.77 to $65.62. During the last trading day the stock fluctuated 5.14% from a day low at $62.79 to a day high of $66.02. The price has been going up and down for this period, and there has been a 0.97% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 196 thousand more shares were traded than the day before. In total, 330 thousand shares were bought and sold for approximately $21.65 million.

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.13% during the next 3 months and, with a 90% probability hold a price between $65.60 and $79.69 at the end of this 3-month period.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

TNK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, July 18, 2024, and so far it has risen 5.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Teekay Tankers Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $67.58. On a fall, the stock will find some support from the short-term average at $63.64. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Buy
Special Signal Notification

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 $65.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.23 between high and low, or 5.14%. For the last week, the stock has had daily average volatility of 3.28%.

Our recommended stop-loss: $62.62 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)

Trading Expectations (TNK) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Teekay Tankers Ltd to open at $64.81, and during the day (based on 14 day Average True Range), to move between $63.62 and $67.62, which gives a possible trading interval of +/-$2.00 (+/-3.04%) up or down from last closing price. If Teekay Tankers Ltd takes out the full calculated possible swing range there will be an estimated 6.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $65.61 (0.02%) than the resistance at $69.30 (5.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Teekay Tankers Ltd stock A Buy?

Teekay Tankers Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.491 Hold/Accumulate Upgraded

Predicted Opening Price for Teekay Tankers Ltd of Tuesday, July 23, 2024

Fair opening price July 23, 2024 Current price
$64.81 ( 1.23%) $65.62

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
R3 68.04 3.69%
R2 66.81 1.81%
R1 66.04 0.646%
Price 65.62
S1 63.58 -3.11%
S2 62.81 -4.28%
S3 61.58 -6.16%

Accumulated Volume Support & Resistance Levels

Level Price
R3 71.83 9.46%
R2 71.02 8.23%
R1 69.30 5.61%
Price 65.62
S1 65.61 -0.0152%
S2 63.54 -3.17%
S3 60.28 -8.14%

TNK Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 20, 2024 May 20, 2024 May 31, 2024 $1.00 1.37%
2 Feb 22, 2024 Mar 01, 2024 Mar 15, 2024 $0.250 0.448%
3 Nov 02, 2023 Nov 13, 2023 Nov 27, 2023 $0.250 0.481%
4 Aug 03, 2023 Aug 11, 2023 Aug 25, 2023 $0.250 0.608%
5 May 11, 2023 May 19, 2023 Jun 02, 2023 $1.25 3.31%

FAQ

What is the symbol for Teekay Tankers Ltd Stock and on which exchange is it traded?
The symbol for Teekay Tankers Ltd is TNK and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Teekay Tankers Ltd Stock?
Teekay Tankers Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

How to buy Teekay Tankers Ltd Stock?
Teekay Tankers Ltd Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Teekay Tankers Ltd Stock.

What's the current price of Teekay Tankers Ltd Stock?
As of the end of day on the Jul 22, 2024, the price of an Teekay Tankers Ltd (TNK) share was $65.62.

What is the 52-week high and low for Teekay Tankers Ltd Stock?
The 52-week high for Teekay Tankers Ltd Stock is $74.20 and the 52-week low is $37.20.

What is the market capitalization of Teekay Tankers Ltd Stock?
As of the Jul 22, 2024, the market capitalization of Teekay Tankers Ltd is 2.248B.

When is the next earnings date for Teekay Tankers Ltd?
The upcoming earnings date for Teekay Tankers Ltd is Aug 01, 2024.
Click to get the best stock tips daily for free!

About Teekay Tankers Ltd

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products. It also provides tanker commercial and technical management services. As of December 31, 2021, the company owned and leased 48 dou... TNK Profile

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE

ROCKIT