Trading Idea - #ScorpioTankersMy 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!
STNG
STNG is looking to recoup some ground.Oil Tankers have experienced a lot of uncertainties due to the pandemic in 2020, however it is clear that the worse is behind us. Oil it will slowly drift higher and so tankers like Scorpio will benefit from that.
My primary target for STNG in the next 6 months, is on its immediate major FIB level, around $18.
Let's wait and see how it will go in the next couple months.
Baltic dry index ETFWeekly chart. nice set up here. A break over 10 could see a big push higher. Holding some Jan 2020 calls $STNG $TNK $SALT $SHIP
STNG- LONG13.07 - 13.50 Buy zone
yeah this is going Up
1. Yahoo finance confirmed there are upsides to 30 dollars
2. Interactive Broker 12 analyst rating consensus BUY
3. Zacks investment research Monthly premium subscription concluded the best pick - STNG
4. and I did look into STNG technical analysis, I think I agree with them
it is currently at $13.35
Period 4-6 month
Scorpio Tankers bottom formationTanker day rates are through the roof and the sectors share prices haven't yet produced the fruits.
If this inverse head & shoulders pattern completes the bottom is in for the time being. Load up on the tankers. The whole sector looks primed and ready to take-off.
Confirmation with break of neckline & increased volume on the break. Looking to long on the re-test of the break
STNG the most pessimistic scenario All i can see is positive graphs about STNG medium-long term. There is not even one who says that this could crash to below $10. Be careful if this formation takes place...
STNG, tanker stock at a perfect level. - Fundamentally sound, good balance sheet
- Trading at a perfect level right now, with a great RR ratio.
- CEO bought million(s) in call options, expiring 2021.
- Unlikely to trend much lower at this level.
STNG On the 4HRCould go either way, I'm leaning bullish although low volume is worrisome. Price-wise, it looks to be seller exhaustion with some indicators pointing to a relief-rally, however big. I don't care about macro-events just looking at charts, I think buyers have some room here.
Still bagholding over hereTake what I say for a grain of salt on this one. I am still bagholding hard on this one but we finally broke out of resistance and q2 results will look great. Also the dividend won't hurt anything this month. Wish me luck and probably don't listen to me on this one! In my defense I did say 6 month hold :)
$STNG - decision timeTanker companies are en route to record profits in Q2. For $STNG, volatile oil prices and storage #s have increased volatility. Sitting on the trend line, look for a break north to reflect actual performance or south to double bottom at the 52W lows.
No paing no gain!This is my view for the long term for STNG probably it's going to be really bad before it gets any better.
Gimme hope Joanna gimme hope for this ship to turn around!Hey all,
As we can see the contago play is off and be aware that the street is always smarter than me and you and the good Q1&Q2 were already baked in the price. Oil production has been reduced a lot therefore it's price has found a balance over the last week. As more people return from lockdown demand will slightly rise but still with so big production cut i expect the oil to find a balance around here? So with so much stored oil.. the ship rates are going to go down for the upcoming 3-6 months. Last chance for STNG in the upcoming hours to see where this is heading...
Finally found some support- Earnings coming up Found some support friday and may get another contango situation this month. Hold this stock until the oil glut disappears. This is advice only and make your own trades. I will be holding through earnings.
Is this a bear flag? We'll find out todayStng has some incredible volatility over the last days as well as record high volumes. Kinda an unpredictable stock for the short-term. Oil is rising again and tanker rates are falling. Imo Q1&Q2 are already priced in. Today's results will help us understand where this one is going...
Problemo for STNGOil is rising and OPEC cuts down production... don't see this baby going up in the next months... for me there is a probability that they will inflate earnings because if not now when? However next week could be devastating would not risk to take a position at this point!
Ready for a quick espresso?Awaiting first trading days of the next week to see if this formation takes place. Imo probabilities to take place are <30%
STNG- tankers in generalReally no chart needed and no idea if the lines mean anything right now. All you need to know is to buy tankers and hold them for 6 months. Do you DD and look into tanker rates, the oil glut is a boom for tankers. Get in while you can (6-month timeline)
$STNG Breaks Out as Taking Oil Away Becomes ValuableSTNG shares have displayed a "running MACD bull divergence" for months.
The stock is now breaking out in strong form as everyone wakes up to the idea that the folks who own the floating oil storage resources will be at a premium when people are paying to not have oil.
