Short term view - TENARIS SA : The moving average is supporting prices.
The previous high has been passed, the bullish trend is confirmed. The next target is at €16.220. The invalidation level is below €13.500.Arguments :
- The resistance has been passed.
- The moving average is supporting prices.
- The bullish gap has been tested, the rally resumes.
Tenaris manufactures and supplies seamless steel pipe products for the global oil and gas industry, as well as other industrial applications. Co. operates an integrated worldwide network of steel pipe manufacturing, research, finishing, and service facilities with industrial operations in the Americas, Europe, Asia, and Africa. Co. produces pipes for boilers, heat exchangers, hydraulic cylinders, automotive, structural and other industrial applications and supplies welded steel pipes for oil and gas pipelines in the South American region. Its principal products include casing, tubing, line pipe, and mechanical and structural pipes. Co.'s organizes its business around one segment: Tubes.
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