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Stock Investors Sell Off Shares of Teekay LNG Partners, Down 2.6%

Published on Wed, 03/06/2013 - 13:16
By Peter Chu

Teekay LNG Partners (NYSE:TGP), a company whose shares are moving quickly, is trading 2.6% lower to $38.17. The Dow is up 0.3% to 14,296 and the S&P is currently trading fractionally higher to 1,541.

Teekay LNG Partners (NYSE:TGP) has potential upside of 10.0% based on a current price of $38.17 and analysts' consensus price target of $42.00. Teekay LNG Partners shares should first meet resistance at the 200-day moving average (MA) of $38.56 and find additional resistance at the 50-day MA of $39.95.

In the past 52 weeks, shares of Teekay LNG Partners have traded between a low of $34.50 and a high of $42.60 and are now at $38.17, which is 11% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Teekay LNG Partners LP transports liquified natural gas, compressed natural gas, and crude oil via its carriers and oil tankers.

By Peter Chu
pchu@fnno.com