TEN - Dec 24 100SMA StrongWeak BounceTEN
Sector: Oil & Petroleum Transport, Energy, Tanks
[* Stagnant revenue, with EPS dropping by 47% vs previous quarter
No insider filings recorded on Finviz
ADR 3.47%
Short Interest: 1.61%
Does it respect the H1 100SMA (Min 3Months): Yes
Is it a Hype Thematic (AI, Solar): No but this is a cyclical sector. I noticed a number of other shipping companies are facing similar bearishness. So this softness might be part of the cyclical phase.
- Other tankers in a similar bear territory - INSW, FRO
- 11 Nov seekingalpha.com
100SMA StrongWeak Bounce 🏀 (0.5R) v1.0
Trading risk at 0.5R as we are testing this strategy
This trade model is based on us riding the 100SMA trend waves of the strongest and weakest companies. It only executes well when greater force (RUT & SPX) is trending. Entries are at greater force key levels when it is consolidating. When greater force is taking off it is too late.
Entry
Within Stdev 100 zone
SL = ATR14 * 2 (Run full course no early exits)
Trailing stop (Previous Day Low or high)
Price launch off (D1)
D2 Closes
D3 Move SL to D2 Low