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Scorpio Tankers: The Losing Streak Continues (STNG)

By James Quinn

Scorpio Tankers (NYSE:STNG) traded today at a new 52-week low of $3.32. This new low was reached on below average trading volume as 283,000 shares traded hands, while the average 30-day volume is approximately 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 $3.32 to $5.53 and are now at $3.42. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has slid 1.3%.

There is potential upside of 79.5% for shares of Scorpio Tankers based on a current price of $3.42 and an average consensus analyst price target of $6.14. The stock should run into initial resistance at its 50-day moving average (MA) of $6.01 and subsequent resistance at its 200-day MA of $7.87.

SmarTrend is tracking the current trend status for Scorpio Tankers and will alert subscribers who have STNG in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows scorpio tankers

Ticker(s): STNG