Tsakos Energy Navigation Ltd Stock Forecast
Red day on Wednesday for Tsakos Energy Navigation Ltd stock after losing 0.508%
(Updated on Mar 27, 2024)
The Tsakos Energy Navigation Ltd stock price fell by -0.508% on the last day (Wednesday, 27th Mar 2024) from $25.61 to $25.48. During the last trading day the stock fluctuated 4.23% from a day low at $24.83 to a day high of $25.88. The price has been going up and down for this period, and there has been a 4.34% gain for the last 2 weeks. Volume has increased on the last day by 337 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 578 thousand shares were bought and sold for approximately $14.73 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 5.43% during the next 3 months and, with a 90% probability hold a price between $24.82 and $27.49 at the end of this 3-month period.
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TNP Signals & Forecast
The Tsakos Energy Navigation 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 $25.34 and $24.34. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -2.11%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Tsakos Energy Navigation Ltd stock
Tsakos Energy Navigation Ltd finds support from accumulated volume at $24.43 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 $1.05 between high and low, or 4.23%. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: $24.60 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (TNP) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Tsakos Energy Navigation Ltd to open at $25.40, and during the day (based on 14 day Average True Range), to move between $24.75 and $26.21, which gives a possible trading interval of +/-$0.731 (+/-2.87%) 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 5.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.61 (0.51%) than the support at $24.43 (4.12%), 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?
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 Tsakos Energy Navigation Ltd stock to perform well in the short-term.
Current score: 1.048 Buy Candidate Unchanged
Predicted Opening Price for Tsakos Energy Navigation Ltd of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$25.40 ( 0.327%) | $25.48 |
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 | |||
---|---|---|---|---|
Resistance | R3 | 26.45 | 3.79 % | |
R2 | 26.05 | 2.22 % | ||
R1 | 25.80 | 1.25 % | ||
Current price: | 25.48 | |||
Support | S1 | 25.00 | -1.90 % | |
S2 | 24.75 | -2.87 % | ||
S3 | 24.35 | -4.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.03 | 2.16 % | |
R2 | 25.73 | 0.98 % | ||
R1 | 25.61 | 0.510 % | ||
Current price | 25.48 | |||
Support | S1 | 24.43 | -4.12% | |
S2 | 23.78 | -6.67% | ||
S3 | 23.72 | -6.91% |
TNP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Nov 21, 2023 | Dec 13, 2023 | Dec 20, 2023 | $0.300 | 1.32% |
2 | Sep 07, 2023 | Oct 19, 2023 | Oct 26, 2023 | $0.700 | 3.21% |
3 | May 30, 2023 | Jun 08, 2023 | Jun 15, 2023 | $0.300 | 1.62% |
4 | Nov 22, 2022 | Dec 13, 2022 | Dec 20, 2022 | $0.150 | 0.89% |
5 | Jul 01, 2022 | Jul 13, 2022 | Jul 20, 2022 | $0.100 | 0.90% |
FAQ
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