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Teekay Tankers: Bullish Cup with Handle Targeting $61.82

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Teekay Tankers Ltd. (BATS:TNK)  
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BATS:TNK   Teekay Tankers Ltd.
Chart Patterns Trend Analysis Fundamental Analysis drybulk drybulkshipping Oil shipping BDI Cup And Handle wtico
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chartpattern trendanalysis fundamental drybulk drybulkshipping oil shipping bdi cupandhandle wtico
Teekay Tankers is a Marine Shipping company that is a Subsidiary of The Teekay Corporation, and it mainly focuses on the Shipping and Storage of oil. Recently, the BDI has begun to rise, and oil demand has picked up, leading to increased demand for dry bulk shipping. Despite this one already being up a bunch, I do think it has formed a nice enough Cup with Handle pattern here to try and play for a measured move breakout up to around $61.82.

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