Bullish Moving Average Cross by Tenaris (TS)
Tenaris (NYSE:TS) crossed over its 10-day moving average of $26.66 on a volume of 752K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Tenaris share prices have moved between a 52-week high of $32.77 and a 52-week low of $18.53 and are now trading 45% above that low price at $26.81 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.8%.
SmarTrend recommended that subscribers consider buying shares of Tenaris on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.39. Since that recommendation, shares of Tenaris have risen 23.7%. We continue to monitor TS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses tenaris