Tenaris SA (NYSE: TS)

Tenaris S.A., through its subsidiaries, manufactures and supplies steel pipe products and related services for the energy and other industrial applications. It offers products for oil and gas drilling operations that include casings and tubings, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn tubes, tubular and non-tubular accessories, and devices, as well as technical consulting, pipe management, and field services.
Take a look at the 1-year chart of Tenaris (NYSE: TS) with the added notations:

After TS’ 2nd half, 2014 decline, the stock finally bottomed in January, eventually finding support at $26.00 (green). TS hit that support level again in March. Now that the stock appears to be falling back down to that support level again, traders could expect some sort of bounce. However, if the $26.00 support were to break, lower prices should follow.

The Tale of the Tape: TS has an important level of support at $26.00. A trader could enter a long position at $26.00 with a stop placed under the level. If the stock were to break below the support a short position could be entered instead.
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