STNG Sitting on Support
This stock is sitting on support of around $16.50 to $16.60 area. This would be a good price for a long entry. Looking at the risk/reward ratio, it seems to be quite safe to risk 5%, since the last time $15.64 was hit was more than a month ago. Furthermore, according to the Stoch RSI, the stock is currently oversold, which made any further dip quite unlikely. Target price would be at $20.
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