Trend Table for TS - Tenaris S.A.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 26	B	Weak or Absent	Up	Up	Up	9.38%
Dec 22	B	Weak or Absent	Up	Up	Up	10.22%
Dec 21	B	Weak or Absent	Up	Up	Up	10.09%
Dec 20	B	Weak or Absent	Up	Up	Up	12.39%
Dec 19	B	Weak or Absent	Up	Up	Up	10.72%
Dec 18	C	Weak or Absent	Up	Up	Up	12.75%
Dec 15	C	Weak or Absent	Up	Up	Up	13.84%
Dec 14	C	Weak or Absent	Up	Up	Up	12.75%
Dec 13	C	Weak or Absent	Up	Up	Down	15.70%
Dec 12	D	Weak or Absent	Up	Flat	Down	18.02%