Scorpio Tankers Inc Forecast and Stock Analysis
Technical STNG stock analysis for February 15, 2019.
|Shorts||4.68% ( 2019-01-31 )|
Scorpio Tankers Inc gained 1.96% in the last trading day, rising from $19.39 to $19.77 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has been going up and down for this period, and there has been a 6.98% gain for the last 2 weeks. Volume fell in the last day by -0.51 million shares, and in total, 1.48 million shares bought and sold for approximately $29.16 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the STNG stock was $19.77. This is 1.96% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.75% from a day low at $19.45 to a day high of $20.18.
30 day high of the STNG stock price was $21.29 and low was $1.92.
90 day high was $21.29 and low was $1.56.
52 week high for the Scorpio Tankers Inc - $21.29 and low - $1.48.
Scorpio Tankers Inc lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 338.28% during the next 3 months and, with 90% probability hold a price between $60.97 and $122.10 at the end of this period.
Only positive signals in the chart today. Scorpio Tankers Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $17.41 and $11.52. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday February 08, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
Scorpio Tankers Inc finds support from accumulated volume at $19.39.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.73 between high and low, or 3.75%. For the last week, the stock has had a daily average volatility of 5.52%.
Since the Scorpio Tankers Inc has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $18.54 (-6.23%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Strong Buy Candidate
Scorpio Tankers Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.