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Shares of Scorpio Tankers Fall Below Previous 52-Week Low

By Shiri Gupta

Shares of Scorpio Tankers (NYSE:STNG) traded today at $2.18, breaking its 52-week low. So far today approximately 1.1 million shares have been exchanged, as compared to an average 30-day volume of 2.2 million shares.

Scorpio Tankers (NYSE:STNG) has potential upside of 106.8% based on a current price of $2.18 and analysts' consensus price target of $4.52. 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.

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

In the past 52 weeks, Scorpio Tankers share prices have been bracketed by a current low of $2.18 and a high of $5.53 and are now at $2.18. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has advanced 0.2%.

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 37.1%. 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