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TMCNet:  Stock to Watch: TransAtlantic Petroleum Up 8.4% (TAT)

[January 02, 2013]

Stock to Watch: TransAtlantic Petroleum Up 8.4% (TAT)

Jan 02, 2013 (SmarTrend(R) Spotlight via COMTEX) -- TransAtlantic Petroleum (AMEX:TAT) is one of today's best performing penny stocks, up 8.4% to $0.90 on 1.3x average daily volume. TransAtlantic Petroleum has traded 468,000 shares thus far today, vs. average volume of 367,000 shares per day. The stock has outperformed the Dow (8.4% to the Dow's 1.8%) and outperformed the S&P 500 (8.4% to the S&P's 1.8%) during today's trading.
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TransAtlantic Petroleum has overhead space with shares priced $0.90, or 38.6% below the average consensus analyst price target of $1.47. The stock should hit resistance at its 200-day moving average (MA) of $1.00, as well as support at its 50-day MA of $0.83.

TransAtlantic Petroleum Ltd. explores for and produces crude oil and natural gas. The Company holds interests in developed and undeveloped oil and gas properties in Turkey, Morocco, Romania, and the United States.

In the past 52 weeks, TransAtlantic Petroleum share prices have been bracketed by a low of $0.71 and a high of $1.64 and are now at $0.90, 27% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of TransAtlantic Petroleum on November 6th, 2012 by issuing a Downtrend alert when the shares were trading at $0.88. Since that call, shares of TransAtlantic Petroleum have fallen 5.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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