• user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 435542 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.
  • user warning: Got error 28 from storage engine query: SELECT DISTINCT(node.nid) AS nid, node_kaltura.kaltura_thumbnail_url AS node_kaltura_kaltura_thumbnail_url, node.title AS node_title, node_revisions.body AS node_revisions_body, node_revisions.format AS node_revisions_format, node_kaltura.kaltura_entryId AS node_kaltura_kaltura_entryId, node_kaltura.kaltura_plays AS node_kaltura_kaltura_plays, node_revisions.timestamp AS node_revisions_timestamp, node_kaltura.kaltura_duration AS node_kaltura_kaltura_duration, node_kaltura.kaltura_tags AS node_kaltura_kaltura_tags, node_kaltura.kaltura_admin_tags AS node_kaltura_kaltura_admin_tags, users.uid AS users_uid, users.name AS users_name, node.created AS node_created FROM node node LEFT JOIN node_kaltura node_kaltura ON node.nid = node_kaltura.nid LEFT JOIN node_revisions node_revisions ON node.vid = node_revisions.vid INNER JOIN users users ON node.uid = users.uid WHERE (node_kaltura.kaltura_media_type in ('1', '6')) AND (node_kaltura.kaltura_video_comment in ('0')) AND (node.status <> 0) AND ((node_kaltura.kaltura_tags) LIKE ('%%')) AND (node.created <= 1397622108-300) GROUP BY nid ORDER BY node_created DESC LIMIT 0, 6 in /var/www/www.fnno.com/htdocs/modules/views/includes/view.inc on line 771.

Bearish Moving Average Cross by Tenaris (TS)

Published on Mon, 02/04/2013 - 12:10
By Robert Cotter

Tenaris (NYSE:TS) shares have crossed bearishly below their 10-day moving average of $42.11 on a volume of 631K 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, Tenaris has traded in a range of $29.79 to $44.88 and is now at $41.05, 38% above that low. The 200-day and 50-day moving averages have moved 0.43% higher and 1.28% higher over the past week, respectively.

Potential upside of 11.3% exists for Tenaris, based on a current level of $41.05 and analysts' average consensus price target of $45.67. The stock should find initial support at its 50-day moving average (MA) of $40.77 and further support at its 200-day MA of $38.40.

Tenaris S.A. manufactures seamless steel pipe products on a global basis. The Company also provides pipe handling, stocking, and distribution services to the oil and gas, energy, and mechanical industries. In addition, Tenaris supplies welded steel pipes for gas pipelines in South America.

By Robert Cotter
rcotter@fnno.com