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AI Analysis of TNK
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Teekay Tankers Ltd stock downgraded to Sell Candidate
(Updated on Apr 22, 2024)

Sell candidate since Apr 22, 2024 PDF

The Teekay Tankers Ltd stock price fell by -0.460% on the last day (Monday, 22nd Apr 2024) from $56.53 to $56.27. During the last trading day the stock fluctuated 1.52% from a day low at $55.87 to a day high of $56.72. The price has fallen in 7 of the last 10 days and is down by -2.61% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -50 thousand shares and in total, 241 thousand shares were bought and sold for approximately $13.57 million.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.76% during the next 3 months and, with a 90% probability hold a price between $50.88 and $59.30 at the end of this 3-month period.

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TNK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.35%. 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 Teekay Tankers Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $56.88 and $56.56. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. 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 $55.59 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 $0.85 between high and low, or 1.52%. For the last week, the stock has had daily average volatility of 2.37%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

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 $56.29, and during the day (based on 14 day Average True Range), to move between $54.63 and $57.91, which gives a possible trading interval of +/-$1.64 (+/-2.91%) up or down from last closing price. If Teekay Tankers Ltd takes out the full calculated possible swing range there will be an estimated 5.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $56.91 (1.14%) than the support at $55.59 (1.21%), 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 Teekay Tankers Ltd stock A Buy?

Teekay Tankers Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.200 Sell Candidate Downgraded

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

Fair opening price April 23, 2024 Current price
$56.29 ( 0.0297%) $56.27

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 57.14 1.54 %
R2 56.81 0.96 %
R1 56.61 0.607 %
Current price: 56.27
Support S1 55.96 -0.547 %
S2 55.76 -0.90 %
S3 55.44 -1.48 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 60.71 7.89 %
R2 57.68 2.51 %
R1 56.91 1.14 %
Current price 56.27
Support S1 55.59 -1.21%
S2 54.78 -2.65%
S3 54.03 -3.98%

TNK Dividend Payout History


# Declaration Date 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

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 negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell 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 Apr 22, 2024, the price of an Teekay Tankers Ltd (TNK) share was $56.27.

What is the 52-week high and low for Teekay Tankers Ltd Stock?
The 52-week high for Teekay Tankers Ltd Stock is $64.42 and the 52-week low is $35.00.

What is the market capitalization of Teekay Tankers Ltd Stock?
As of the Apr 22, 2024, the market capitalization of Teekay Tankers Ltd is 1.917B.

When is the next earnings date for Teekay Tankers Ltd?
The upcoming earnings date for Teekay Tankers Ltd is May 09, 2024.
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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

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