Tenaris S.A. (TS) manufactures and supplies steel pipe products, primarily for the oil and gas industry. This does not qualify as a "sexy" stock but it does qualify as a stock in an uptrend. Let's look at the charts and indicators.
In this daily bar chart of TS, below, I can see an encouraging picture. Prices are in an uptrend after a low in early July and a higher low in late September. Prices trade above the rising 50-day moving average line and above the rising 200-day line.
The daily On-Balance-Volume (OBV) line declined into late September with prices but has improved slightly since then. The Moving Average Convergence Divergence (MACD) oscillator is bullish and just turned upwards to a fresh outright buy signal.
In this weekly Japanese candlestick chart of TS, below, I see a longer-term uptrend in force since early 2020. Prices have more than tripled from the lows. TS trades above the rising 40-week moving average line.
The weekly OBV line has been in a long rise but needs to make a new high to confirm the price gains. The MACD oscillator is bullish.
In this daily Point and Figure chart of TS, below, I can see an upside price target in the $57 area.
In this weekly Point and Figure chart of TS, below, I can see the same price target as the daily chart: $57.
Bottom line strategy: Aggressive traders could go long TS on a dip into the $35-$34 area risking to $31. The $57 area is our price target for now.
