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Scorpio Tankers: The Losing Streak Continues (STNG)

By Amy Schwartz

Scorpio Tankers (NYSE:STNG) traded today at a new 52-week low of $1.78. So far today approximately 1.8 million shares have been exchanged, as compared to an average 30-day volume of 3.4 million shares.

Over the past year, Scorpio Tankershas traded in a range of $1.78 to $3.72 and are now at $1.79. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 1%.

Scorpio Tankers Inc. is a shipping company. The Company provides seaborne transportation of crude oil and other petroleum products worldwide.

There is potential upside of 143.3% for shares of Scorpio Tankers based on a current price of $1.79 and an average consensus analyst price target of $4.36. Scorpio Tankers shares should first meet resistance at the 50-day moving average (MA) of $2.00 and find additional resistance at the 200-day MA of $2.45.

SmarTrend recommended that its subscribers protect gains by selling shares of Scorpio Tankers on July 16th, 2018 by issuing a Downtrend alert when the shares were trading at $2.56. Since that call, shares of Scorpio Tankers have fallen 29.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows scorpio tankers

Ticker(s): STNG