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Wednesday, 31 January 2018

Tenaris S.A (NYSE: TS): 31 January 2018, Wednesday, 1.43pm Singapore Time


Tenaris S.A (NYSE: TS):
31 January 2018, Wednesday, 1.43pm Singapore Time
(Click on Technical Chart above to Expand)

Attached above is the technicals for Tenaris S.A, a metals fabrication company that is incorporated in Luxembourg and listed in the US Market of NYSE. Tenaris' operations span around the globe. Their industrial system integrates steelmaking, pipe rolling and forming, heat treatment, threading and finishing across many countries. Tenaris is a leading supplier of metal tubes and related services for the world’s energy industry and certain other industrial applications. The orange region is the fake gap-down volume where accumulation occured. The 2 light green circled regions are high volume accumulations. Dark green region is another round of buying, this time with full control. The island reversal is illustrated in purple. Tenaris has changed to resume a long term uptrend with $31.50 being used as the neckline for significant re-accumulation. Current prices are a strong buy.

The Donovan Norfolk Technical Rating:
Very Bullish
(Strong Buy)


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