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Teekay Bearish Moving Average Crossover Alert (TK)

By David Diaz

Teekay (NYSE:TK) shares have crossed bearishly below their 10-day moving average of $7.52 on a volume of 366K 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.

Over the past year, Teekay has traded in a range of $4.37 to $50.89 and is now at $7.27, 66% above that low. 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 is monitoring the recent change of momentum in Teekay. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Teekay in search of a potential trend change.

Keywords: moving crosses Teekay

Ticker(s): TK