Trend Table for TS - Tenaris S.A.

Current Trend Strength: Strong

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Dec 13	A	Weak or Absent	Up	Up	Up	20.29%
Dec 12	B	Weak or Absent	Up	Up	Down	24.58%
Dec 9	A	Weak or Absent	Up	Up	Down	28.45%
Dec 8	A	Weak or Absent	Up	Up	Down	23.74%
Dec 7	A	Weak or Absent	Up	Up	Down	25.74%
Dec 6	A	Weak or Absent	Up	Up	Down	24.35%
Dec 5	B	Weak or Absent	Up	Up	Down	24.65%
Dec 2	A	Weak or Absent	Up	Up	Flat	19.47%
Dec 1	A	Weak or Absent	Up	Up	Flat	19.51%
Nov 30	A	Weak or Absent	Up	Up	Up	17.60%