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SmarTrend Watching for Potential Rebound in Shares of Scorpio Tankers After 6.37% Loss

By David Diaz

Scorpio Tankers (NYSE:STNG) traded in a range yesterday that spanned from a low of $24.33 to a high of $25.50. Yesterday, the shares fell 6.4%, which took the trading range below the 3-day low of $25.96 on volume of 306,000 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 27.4%. 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 $28.68 and a 52-week low of $0.15 and are now trading 16,313% above that low price at $24.62 per share. Over the last five market days, the 200-day moving average (MA) has gone up 3.7% while the 50-day MA has advanced 1.6%.

Keywords: rebounders scorpio tankers

Ticker(s): STNG