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Teekay Crosses Above its 10-day MA (TK)

By James Quinn

Today, shares of Teekay (NYSE:TK) have advanced above their 10-day MA of $7.03 on a volume of 596K shares. This may provide swing traders with an opportunity 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 $7.18, 64% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.3% while the 200-day MA has slid 2.9%.

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 12.2%. 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