TNK is currently trading at a significant discount to its NAV. A 1:1 share price with Scorpio Tankers was quite transparent on the way down in May - Nov. I am expecting a rapid catch back up as TNK gets added back to the Russell.
Looking for a Test of $26 as it breaks the pivot of $16.30 on volume. This will be fundamentally supported by accumulation from...
It is looking currently like we are in a scenario that with a quick running inflation period possibly looming, and markets being considered for a 20% dive, the tankers might be a nice soft spot to land.
Oil went through a negative contango, as well as a massive over-profit for spot charters. Currently TNK is sitting about 47% off of the highs from 2020, and...
MID-TERM: Bull flag, bounce off 200 day MA, bounce off .50 retrace, hidden bullish divergence, bullish pinbar candle, over major historical support. (not financial advice) The second trade box is the literal trade, and the first one just shows where to lock in some profit.
Created a nice W- formation on strong weekly support.
Broke and retested the trendline.
Now just waiting for a retest of the neckline to complete the W-formation.
If it finds support on the neckline it’s a buy.
Resistance has been broken, lets gamble
Queue to sell tonight
ACTC at market
IPOE at market
NNDM at market
NIO at market
Remaining stock in portfolio
YINN
WNW
QS
LIZI
NYSE:TNK
Possible Scenario: LONG
Evidence: Price Action, moved ABOVE Keltner channel, Break out confirmed
TP1 ~17.5, Until 19 March, 28% Profit
I have call options for 19 March, Strike 17.5$, Trade QTY: 1443, OI: 17
Recommendation rating on yahoo finance is 2, Fair price is: 45.44
This is my idea and could be wrong 100%
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
"Tanker storage may offer an alternative to land storage, but it is “very pricey” and there are not enough tankers available to solve the problem, he told MarketWatch, adding that rates for very large crude carriers, or VLCCs, have skyrocketed above $100,000 a day for a three-month charter."
Not for a suggestion, just an Idea!
Good-luck!
$TNK $STNG $NAT Shipping stocks all looking bullish to me, excess oil being produced every day with consumption down means it all needs to be stored somewhere?
NYSE:TNK
You may have noticed a negative sign in front of WTI crude oil today. Yea, that’s not good... TVC:USOIL
It had to do with May Future contracts expiring and an unprecedented amount of oil supply flooding the market.. In short, no one wants to buy 1000 barrels of oil with no where to store it.. the fancy CFA word is called “Contango”, and has to do with...
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