Scorpio Tankers Stock Forecast

Scorpio Tankers stock upgraded from Strong Sell Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)

STNG Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Scorpio Tankers stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $81.98 and $80.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -3.40%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, May 02, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Scorpio Tankers stock

Scorpio Tankers finds support from accumulated volume at $78.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.80 (2.26%) between high and low. For the last week, the stock has had daily average volatility of 2.84%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (STNG) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Scorpio Tankers Inc to open at $80.56, and during the day (based on 14 day Average True Range), to move between $78.55 and $82.83, which gives a possible trading interval of +/-$2.14 (+/-2.65%) up or down from last closing price. If Scorpio Tankers Inc takes out the full calculated possible swing range there will be an estimated 5.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $80.75 (0.07%) than the support at $78.04 (3.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Scorpio Tankers Inc stock A Buy?

The Scorpio Tankers stock holds several negative signals and despite the positive trend, we believe Scorpio Tankers will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.535 Sell Candidate Upgraded

Predicted Opening Price for Scorpio Tankers Inc of Wednesday, July 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.