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Scorpio Tankers Falls 3.99% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Scorpio Tankers (NYSE:STNG) traded in a range yesterday that spanned from a low of $2.62 to a high of $2.76. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $2.69 on volume of 2.3 million 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 April 12th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.32. Since that recommendation, shares of Scorpio Tankers have risen 19.0%. We continue to monitor STNG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Scorpio Tankers share prices have moved between a 52-week high of $4.18 and a 52-week low of $1.85 and are now trading 44% above that low price at $2.65 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.5%.

Keywords: rebounders scorpio tankers

Ticker(s): STNG