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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 $1.97. So far today approximately 623,000 shares have been exchanged, as compared to an average 30-day volume of 2.2 million shares.

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

Over the past year, Scorpio Tankershas traded in a range of $1.97 to $5.53 and are now at $1.98. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has advanced 0.2%.

Scorpio Tankers (NYSE:STNG) has potential upside of 128.0% based on a current price of $1.98 and analysts' consensus price target of $4.52. Scorpio Tankers shares should first meet resistance at the 50-day moving average (MA) of $6.01 and find additional resistance at the 200-day MA of $7.87.

SmarTrend recommended that its subscribers protect gains by selling shares of Scorpio Tankers on September 12th, 2017 by issuing a Downtrend alert when the shares were trading at $3.50. Since that call, shares of Scorpio Tankers have fallen 42.8%. 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