TEN Should I Buy
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TEN is not a good buy right now for an impatient buyer. The trend is still bullish, but price is stretched (RSI high) and sitting just below near-term resistance, while hedge funds have been aggressively selling. If you have no position, I would avoid chasing here and only consider buying on a pullback toward support (~26.3 or lower).
Price/Trend: Bullish structure with SMA_5 > SMA_20 > SMA_200, indicating a clear uptrend. Momentum: MACD histogram is positive (0.197) but contracting, suggesting upside momentum is fading. RSI_6 is elevated at 77.27 (effectively overbought/extended), which often precedes consolidation or a pullback—especially for short-term entries. Levels: Pivot 26.321 is the key nearby support; below that S1 25.255. Resistance is close overhead at R1 27.386 and R2 28.045. With the post-market price at 27.17, upside to R1 is limited while downside to pivot is larger, creating an unfavorable near-term risk/reward for a fresh entry. Pattern-based short-term odds also lean slightly negative (next week and month expectations mildly down).
Bullish technical trend (stacked moving averages) with price holding above pivot support. Analyst coverage initiated with a Buy and a $35 target (meaningful upside vs ~27). Earnings date is upcoming (2026-02-23 after hours), which can act as a volatility/catalyst event if results surprise positively.
Short-term extension: RSI is high and MACD is contracting, raising the probability of consolidation/pullback rather than immediate continuation. Hedge funds are reported as selling, with selling amount up 192.74% QoQ—this is a meaningful institutional headwind. No supportive news flow in the last week to justify chasing strength. Revenue and gross margin declined YoY in the latest reported quarter, which can re-emerge as a concern into the next earnings cycle.
Latest quarter (2025/Q3): Revenue fell to $186.23M (-6.96% YoY) and gross margin declined to 32.63 (-8.24% YoY), showing top-line and profitability pressure. However, net income rose to $31.27M (+57.98% YoY) and EPS increased to 1.05 (+56.72% YoY), indicating stronger bottom-line performance despite weaker revenue—likely aided by costs, rates/mix, or one-offs. Overall: mixed quality; good earnings growth, but weakening sales/margins is a drag for near-term enthusiasm.
Recent Wall Street view: On 2025-12-15, Clarksons (Frode Morkedal) initiated TEN with a Buy and a $35 price target. Pros: new bullish coverage and sizable implied upside. Cons: only a single noted update here (limited breadth), and the market may already be pricing some optimism given the overbought technicals and institutional selling.
