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Teekay Tankers (TNK) Just Overtook the 50-Day Moving Average

From a technical perspective, Teekay Tankers (TNK) is looking like an interesting pick, as it just reached a key level of support. TNK recently overtook the 50-day moving average, and this suggests a short-term bullish trend.

The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend.

TNK could be on the verge of another rally after moving 6.9% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

Looking at TNK's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 1 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

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Investors should think about putting TNK on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

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