Tsakos Energy Navigation Ltd Stock Forecast
Tsakos Energy Navigation Ltd stock price ended at $29.28 on Tuesday, after losing 0%.
(Updated on Jul 02, 2024)
No changes to the price of Tsakos Energy Navigation Ltd stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 0% from a day low at $29.28 to a day high of $29.28. The price has been going up and down for this period, and there has been a 3.68% gain for the last 2 weeks.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $28.78 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 20.84% during the next 3 months and, with a 90% probability hold a price between $34.78 and $40.78 at the end of this 3-month period.
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TNP Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tsakos Energy Navigation Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $29.45 and $29.99. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, May 31, 2024 with a target of $30.39. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Tsakos Energy Navigation Ltd stock
Tsakos Energy Navigation Ltd finds support from accumulated volume at $28.59 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.48%
Our recommended stop-loss: $27.48 (-6.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (TNP) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Tsakos Energy Navigation Ltd to open at $29.28, and during the day (based on 14 day Average True Range), to move between $28.51 and $30.05, which gives a possible trading interval of +/-$0.766 (+/-2.61%) up or down from last closing price. If Tsakos Energy Navigation Ltd takes out the full calculated possible swing range there will be an estimated 5.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $29.38 (0.34%) than the support at $28.59 (2.36%), 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.
Is Tsakos Energy Navigation Ltd stock A Buy?
Tsakos Energy Navigation Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Tsakos Energy Navigation Ltd of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $29.28 ( 0%) | $29.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TNP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.28 | - |
| R2 | 29.28 | - |
| R1 | 29.28 | - |
| Price | 29.28 | |
| S1 | 29.28 | - |
| S2 | 29.28 | - |
| S3 | 29.28 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.78 | 1.71% |
| R2 | 29.68 | 1.37% |
| R1 | 29.38 | 0.342% |
| Price | 29.28 | |
| S1 | 28.59 | -2.36% |
| S2 | 28.03 | -4.27% |
| S3 | 27.09 | -7.48% |
TNP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jul 12, 2024 | Jul 18, 2024 | $0.600 | 2.05% |
| 2 | Nov 21, 2023 | Dec 13, 2023 | Dec 20, 2023 | $0.300 | 1.32% |
| 3 | Sep 07, 2023 | Oct 19, 2023 | Oct 26, 2023 | $0.700 | 3.21% |
| 4 | May 30, 2023 | Jun 08, 2023 | Jun 15, 2023 | $0.300 | 1.62% |
| 5 | Nov 22, 2022 | Dec 13, 2022 | Dec 20, 2022 | $0.150 | 0.89% |
FAQ
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