TEN trade ideas
$TS Weekly breaking out - 27 PTTenaris is in the Steel manufacturing and supply business. With the recent passing of the infrastructure bill it's no wonder we are seeing a weekly breakout here.
Looking for more continuation this week with a near term PT to the next line of resistance $27 zone. Love to see the EMA's opening up and MACD bullish cross for confluence.
I'm in NOV $25 calls, already up 166%. I think there's more juice this week. Let's see :)
Tenaris S.A. - Supplier To The Energy Industry Tenaris S.A. is a global manufacturer and supplier of steel pipes and related services, primarily for the energy industry with nearly 23,000 employees around the world.
Possible "Pick-and-Shovel" Play.
Technical View:
Emerging from a falling channel structure.
Buy: $21.91
Stop: $19.45
Target: $25.20 to $26.00
Piper Sandler Lifts $TS to Overweight From NeutralPiper Sandler Lifts Tenaris SA to Overweight From Neutral, Price Target to $23 From $16.25
In the fourth quarter of 2020, our sales rose 12% sequentially driven by a gradual recovery in drilling activity in the Americas and a good mix of products sold in the Middle East.
EBITDA rose 79% sequentially, reflecting a better industrial performance and the operating leverage of higher volumes on a lower fixed cost base after the restructuring measures implemented during the year.
net cash position remained stable at $1.1 billion.
For the year, we recorded a net loss attributable to owners of the parent company of $634 million, or ($1.07) per ADS.
finance.yahoo.com
Tenaris We are the leading manufacturer of pipes and related services for the world's energy industry and certain other industrial applications. Our manufacturing system integrates steelmaking, pipe rolling and forming, heat treatment, threading and finishing across 16 countries. We also have an R&D network focused on enhancing our product portfolio and improving our production processes. Our team, based in more than 30 countries worldwide, is united by a passion for excellence in everything we do.
4th quarter results have been released. Although financials are improving, I believe that price running too hot right now and is in need of a retracement soon. I have price testing up to $13/$14 dollars in a best case scenario. Looking for a possible put option for the short term. Need to witness price action on smaller time frame.
Let me know what you think!
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*not investing advice