Don't Ignore This Chart

Teekay LNG Partners (TGP) Imports A New High


Teekay LNG Partners (TGP) Broke out to new two year highs this week. This marked the highest close in two years when the week settled out. The chart has all kinds of bullish technical signals. The RSI has a bull market pattern of staying above 40. The Relative Strength broke out to new multi-month highs. 

Price action has been consolidating nicely and this week marks a definitive breakout. Volume expanded by 30% on the breakout and the MACD just gave a bullish cross above zero. Holding above $19.00, this chart looks like a nice breakout.

Good trading,
Greg Schnell, CMT, MFTA

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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