Shares of Teck Resources Ltd (TCK) Sees Large Outflow of Money

Teck Resources Ltd (TCK) : Money flow in the Teck Resources Ltd (TCK) stock was negative (0.86 million) on Thursday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $0.54 million, compared to $1.4 million on downticks. The total uptick to downtick ratio was 0.38, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($1.12 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $1.12 million, indicating persistent selling. Teck Resources Ltd (TCK) traded $0.19 higher at $14.48 gaining 1.33% over the previous days close.


The stock has recorded a 20-day Moving Average of 12.48% and the 50-Day Moving Average is 27.61%. Shares have rallied 46.30% from its 1 Year high price. On Jul 1, 2016, the shares registered one year high at $14.45 and the one year low was seen on Jan 13, 2016. The 50-Day Moving Average price is $11.66 and the 200 Day Moving Average price is recorded at $8.06.

Teck Resources Ltd (NYSE:TCK): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.41 and $14.23 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.38, notching a gain of 0.63% for the day. The total traded volume was 3,818,956 . The stock had closed at $14.29 on the previous day.

Teck Resources Ltd. is engaged in the business of exploring, acquiring, developing and producing natural resources. The Company is focused on steelmaking coal, copper, zinc and energy. The Company exports seaborne steelmaking coal and produces mined zinc. The Company also produces lead, molybdenum, silver, and various specialty and other metals, chemicals and fertilizers. It explores for copper from its interests in Antamina in Peru, Quebrada Blanca and Carmen de Andacollo in Chile and Duck Pond in Newfoundland. The Company has around 97.5% interest in Highland Valley Copper. The Company produces mined zinc, primarily from its Red Dog mine in Alaska, the Antamina mine in northern Peru, and its Pend Oreille mine in Washington State. Its energy assets in the Athabasca oil sands region of northeastern Alberta include its interests in the Fort Hills oil sands project, Frontier oil sands project in various other oil sands leases in the exploration phase, including the Lease 421 Area.

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