Teekay Tankers

Teekay Tankers (TNK) completed a 13 months triangle by closing above 3.10 with a surge of average daily volume. The stock is also constructing a double bottom formation (though not so perfect). Implied target for the triangle breakout is $3.90. Second target of the double bottom pattern is $4.40

 

tnk

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4 Comments on “Teekay Tankers”

  1. Rodders says:

    Guys, this seems to be going pear-shaped. Can we say that the spike has failed?

  2. According to last day rule a close below 3.03 indicates the pattern has failed.

  3. Rodders says:

    OK, so it hasn’t failed yet (?). Can you pls explain last day rule, or provide link to it.


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