Bullish on Teekay Tankers Ltd.

A technical look at the stock

The stock became extended and was far above the 40wMA. It had a correction to the 40-week Moving Average where it found good support near US$26 . The recent price action suggests the stock is ready to resume the long-term uptrend .

Behaviour indicators including the rising 40wMA and the rising trendline confirm the bullish status. There is good support near US$31-32; only a sustained decline below US$27 would be negative.Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication

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