TOO (Teekay Offshore Partners LP) was one of the highlighted trade ideas mentioned in the recent shipping videos. After breaking above the handle of the C&H pattern, TOO has now also cleared the 6.72 resistance level & looks to offer an objective entry here with a stop below 6.0 if targeting T2 or below 6.63 if only targeting T1 (gap backfill). With an attractive dividend yield of 6.5%, TOO will be added as both an Active Long Swing Trade as well as an Active Growth & Income Trade idea. note: The next dividend payment of 0.11/share will be payed on May 13th to those who hold the shares on April 29th.
TOO daily April 22nd