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Scorpio Tankers Falls 1.91% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Scorpio Tankers (NYSE:STNG) traded in a range yesterday that spanned from a low of $32.35 to a high of $33.74. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $33.21 on volume of 513,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Scorpio Tankers on January 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.45. Since that recommendation, shares of Scorpio Tankers have risen 63.7%. We continue to monitor STNG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Scorpio Tankers share prices have been bracketed by a low of $0.19 and a high of $40.45 and are now at $32.83, 17,179% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.3%.

Keywords: rebounders scorpio tankers

Ticker(s): STNG