In recent analysis by J Mintzmer he makes come very positive points regarding NYSE:STNGhe wrote "Scorpio Tankers (STNG) has the world's largest fleet of modern product tankers. With major fuel regulations pending in 2020, product markets are poised to surge.Scorpio Tankers (NYSE:STNG) is a product tanker pure-play with the world's largest publicly-traded fleet of...
We expect a sizable move in Scorpio Tankers in the coming days , analysts were already bullish on the stock and it has once again received a upgrade from JP Morgan to overweight with a $34 price target today. They shipping stocks have been in a bear market for many years but that has now changed. The chart of STNG has formed a lovely base and is now set to...
I think we are in the wave 4 retracement, for a downward impulsive wave.
Wave 2 retrace to between 0.23 and 0.38 fib levels, so I hink were gonna go to 0.618 fib level in wave 4, which we have ust saw and bounced from. I think theres gonna be one move wave down.
Short market price 2.69
stop loss 2.79
take profit at 1.39 (below 2.6 because wave 3 went to below 1.6)
Low oil prices are actually a benefit to business, as long as strong global demand continues
correlated too to daily swings of oil prices, use as buying opportunity
Mgmt is confident that dividend is stable
LONG LONG LONG
Fundamentals: STNG is a crude product tanker operating mostly on spot rates. Demand for crude products remains resilient in the ST due to strong refinery activity coupled with a slowing growth of shipping tanker supply moving into 2017.
Technically, stock looks ready to breakout to low 7's as per the chart. Movement supported by many key levels.
We only trade...