Bearish Moving Average Cross by Tenaris (TS)

Published on Wed, 03/04/2015 - 13:32
By Adrienne Chilton in Moving average crossovers, TS, moving crosses, nyse:ts, tenaris

Today, shares of Tenaris (NYSE:TS) have crossed bearishly below their 10-day moving average of $28.63 on a volume of 889K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Tenaris have traded between a low of $26.28 and a high of $48.45 and are now at $28.20, which is 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.6%.

Tenaris (NYSE:TS) has potential upside of 15.4% based on a current price of $28.20 and analysts' consensus price target of $32.55. The stock should run into initial resistance at its 50-day moving average (MA) of $29.09 and subsequent resistance at its 200-day MA of $38.75.

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 Adrienne Chilton
achilton@fnno.com

Latest News from FNNO

Recent 52-Week High Exceeded in Shares o...

Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded today at $141.51, breaking its 52 ...

Recent 52-Week High Exceeded in Shares o...

Vulcan Materials (NYSE:VMC) traded at a new 52-week high today of $95.50. This new hig ...

Vector Group: 52-Week High Recently Ecli...

Shares of Vector Group (NYSE:VGR) traded at a new 52-week high today of $25.65. Approx ...

Veeco Instruments Looks to Continue to T...

Shares of Veeco Instruments (NASDAQ:VECO) traded today at $21.52, breaking its 52-week ...

USG: 52-Week High Recently Eclipsed (USG...

USG (NYSE:USG) traded at a new 52-week high today of $31.39. This new high was reached ...

Shares of Unit Corp Fall to a New 52-Wee...

Unit Corp (NYSE:UNT) traded today at a new 52-week low of $18.39. So far today approxi ...

Watch for Continued Losses in Shares of ...

Shares of Unilife (NASDAQ:UNIS) traded at a new 52-week low today of $1.55. So far tod ...

Unisys: The Losing Streak Continues (UIS...

Shares of Unisys (NYSE:UIS) traded at a new 52-week low today of $15.42. So far today ...