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Bullish Moving Average Cross by Teekay (TK)

By James Quinn

Today, shares of Teekay (NYSE:TK) have crossed bullishly above their 10-day moving average of $6.22 on a volume of 1.2 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Teekay share prices have been bracketed by a low of $4.37 and a high of $50.89 and are now at $6.35, 45% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2.9% while the 50-day MA has advanced 2.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Teekay on June 14th, 2016 by issuing a Downtrend alert when the shares were trading at $7.76. Since that call, shares of Teekay have fallen 24.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Teekay

Ticker(s): TK