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westcoasttrader

STNG - HEAD AND SHOULDERS BOTTOM FORMING

Scorpio Tankers Inc. (NYSE:STNG)  
westcoasttrader Updated   
NYSE:STNG   Scorpio Tankers Inc.
Chart Patterns Beyond Technical Analysis
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chartpattern beyondta
STNG - HEAD AND SHOULDERS BOTTOM FORMING, RIGHT SHOULDER SUPPORTED NICELY OFF THE 2OO EMA. WITH FUNDAMENTALS BACKING THIS TRADE IN THAT THEY LEAD THE WAY WITH NEW CLEAN SCRUBBER TECHNOLOGY IN MOST OF THERE VESSELS THAT IS REQUIRED BY JAN 1 2020 FOR NEW LOW SULPHER FUEL STANDARDS, MOST OTHER COMPANIES WILL NOT BE FULLY COMPLIANT BY THIS DATE.
Comment:
Long STNG a technical and a news story play. The IMO 2020 program coming in to effect in Jan where as Tankers need to have scrubbers installed to burn new low sulpher emission fuel and a CEO that bought a boatload of Jan call options betting on his company in spades.
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