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Teekay Bearish Moving Average Crossover Alert (TK)

By Nick Russo

Teekay (NYSE:TK) shares have crossed bearishly below their 10-day moving average of $6.28 on a volume of 2.3 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Teekay share prices have moved between a 52-week high of $50.89 and a 52-week low of $4.37 and are now trading 27% above that low price at $5.54 per share. 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 March 14th, 2017 by issuing a Downtrend alert when the shares were trading at $8.89. Since that call, shares of Teekay have fallen 27.8%. 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