Learning Happens when you're open and curious and making observations from what you see. From there, you must be mentally balanced to take action on your observations.
In this post, I focus on the price action that happens in the pivot portion of a swing cycle. If you make observations of this area you will see a certain kind of repeating behavior that can help...
Price is on a breakout above a bullish flag and is now above 20/50/100/200 EMA. However, momentum is decreasing and RSI is nearly 70. Therefore, STNG may consolidate around 60 resistance level before surging up towards is 72 price target.
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 44.5/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
Building a LONG position on NYSE:STNG at these levels.
1) Continues to build higher free cash flows
2) Transports refined oil products
3) MC currently at $2.4 Bn, valued at $5 Bn presents value
4) Mgmt actively reducing share count = increase share price
5) Recession/OPEC risk
-Support looks solid around $44
- I like $70+ as LT PT ( +60% gain)
-Obviously...
after receiving multiple confirmations I think it is time to buy Scorpio Tankers for a easy $10 gain per stock minimum. Target price is anything between the 59, 60 dollar mark.
However, being part of a triple pike column, you may want to get ready for a second leg from 56-57 to the 72 mark in the near future.
If you make money in this analysis, please like and...
Scorpio Tankers Inc. (STNG) appears to be headed for a downside based on two significant factors - the impact of the oil market and the approach of Wave 3 in the Elliott Wave Theory. The recent downturn in the oil market has hit the entire industry hard, and Scorpio Tankers is no exception. As a company that operates in the oil tanker shipping industry, the drop...
Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide.
Management has been aggressively buying back shares
Strong earnings should allow management to continue dividend payments
Strong return over the last month
Prominent player in the Oil, Gas & Consumable Fuels...
I was kind of intuitively guided to this one and have been thinking it's heading down. Looks ready to break the neckline and my dowsing says energy is really bearish.
I asked for a target within the next month and am looking in the zone of $38-40.00
Scorpio Tankers and its subsidiaries are involved in the seaborne transportation of refined petroleum products in global shipping markets.
Its stock price has had a 350% run so far over the last 12 months, and analysts are forecasting it could get to around $68 or so which is another 20% to go from its current price levels.
There are a couple of different...
STNG levels on the 1-day chart:
SMA20 Triangular Trend Channel:
top = $62.80
R3 = $60.19
R2 = $57.57
R1 = $54.95
pivot = $52.34
S1 = $49.72
S2 = $47.10
S3 = $44.49
bottom = $41.87
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable...
Several stocks of this industry are making new highs
And NYSE:STNG and NYSE:INSW are leading the way.
Something must be happening here.
I missed entries in these stocks but I'll keep them in the watchlist as they are clear market leaders.
--Hold on the long support
--Reclaim the 21 ema
--Breakout from a flag pattern , showed entry on MACD , RSI above 50
--Entry 1.25%-2% above last close price
--Cut loss @ 7.5% (at higher range), right below 21 ema , since this could be the support level . Above 2:1 target ratio
--Disregard if show choppy price action
--Good luck, hope there still demand for marine...
STNG - Long
Scorpio Tankers is one of the top Energy Transportation plays
Given the Russia Ukraine situation - rates could well remain elevated
Paying off debt of $500m + $250m share buyback (relative to a $2bn market cap this is significant!)
Management has invested in heavily ships in prior years - giving it a very young fleet (6.5 yrs avg) - as a result...
Hi there,
Currently expecting fourth wave (correction) to 38.2% from the previous upward movement.
Since the fourth corrective wave is expected further (when the price will reach the target) I will consider the final upward movement as a final fifth wave.
My Trading Idea for Scorpio Tankers - sell / SHORT
Target: 20.00 EUR
Stop: 41.50 EUR
Resistance level rejected. I'll give it a try to retrace to POI at 20.00 EUR!
Been on a huge parobolic run. Could b just a minor pull back here Howver daily is showing a double top at that 37 level. I see a potential head and shoulders and a rising channel here. I’m really watching this 35.40 area of course if it pops back in it this means nothing. So we’ll have to wait and see if we can see any rejection here. Otherwise watchinf that 37$...
Based on its uptrend, rebound from support and a familiar chart pattern confirmed by my technical indicators, I expect at least half a percent in profits IF STNG exceeds yesterday's high of $26.14 during today's session.
