TNP will be added as both a long entry and setup. An aggressive trader could opt to take a partial or full position now as TNP has broken above this 6 year downtrend line as well as the 60 week ema, which has also acted as resistance throughout that downtrend. However, as this trade is based off the weekly chart, a more conventional trader might prefer to see a weekly close above both those levels. As the 60 week ema comes in at 4.82 now, a close at or above 4.85 today (or any week) should be sufficient confirmation of a breakout. As with several other of the recent long trade ideas posted here lately, TNP is a low-priced, high-risk/potentially high-return shipping stock so consider to adjust your position size down accordingly to account for the unusually high volatility if you decide to take it.
