favorable for a move up. I expect it will be slow untill earnings performance improves. We must remember TNK was a $24. stock before world recession, and they have aquired a newer, better fleet. Any sign that the world economy is turning can help the SP here. Take a look at the 2 year chart, MACD and RSI; also look at STOC on the 6 mo chart. And look at the 5 year chart. It looks like a long term bottom. I don't expect it will go down much further but has terrific long term upside potential.
It has to survive long enough to catch the global recovery. Given the balance sheet, I wouldnt hold my breath on this one. It's so weighed down by debt alone that the cash flow will have a hard time keeping up with even that line item. This thing is on life suport.
To consider technical sock price charts when evaluating whether or not to invest in TNK is beyond stupid. Barring any crazy developments, the share price of TNK will basically track the tanker rates and the prospects for tanker rates in the future. I happen to think that we are at or close to the bottom o fthe cycle, and that the demise of oil is greatly exaggerated. therefore, I think that TNK is a great investment here. I may be wrong but I am certain that TNK is not going to go up or down because of some idiotic technical share price charts.
If you are going to call other people stupid, perhaps you should learn to spell stock, it is not sock charts. Also, were I to only consider stock charts it would be a bit foolish; however technicals are very useful to confirm what you think about fundamentals. What you understand about fundamentals can be wrong because of all the bs that is put out there. No matter how much dd you do, you can still be wrong about just what to believe. But charts cannot be flim flammed. Charts are a reflection of what the market thinks about the stock. I would say that people who ignore a potentially useful tool, which charting is, might be called stupid. But I don't call anyone stupid.