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Scorpio Tankers’ Relative Strength Rating Surges to 81


Sep 19, 2023
Scorpio Tankers’ Relative Strength Rating Surges to 81

When assembling your watch list, it’s important to look for stocks that have an RS Rating of 80 or higher. Scorpio Tankers (STNG) stock has recently met this criteria with a new score of 81.

Relative price strength is a key factor to consider when searching for the best stocks to buy and watch. IBD’s RS Rating provides a unique measurement of a stock’s technical performance, ranging from 1 (worst) to 99 (best), that compares its price performance over the past 52 weeks to other publicly traded companies. Analysis of historical data shows that the market’s top performers typically have an RS Rating above 80 when they begin their major price moves.

In the case of Scorpio Tankers stock, it is currently attempting to form a cup without handle pattern with a buy point of 64.20. Investors should watch for a breakout in volume that is at least 40% higher than average.

Last quarter, the oil & gas company reported negative growth in both sales and earnings. Among its peers in the Oil & Gas-Transportation/Pipeline industry group, Scorpio Tankers stock ranks number 27. Other highly-rated stocks in the same group include Euronav (EURN) and International Seaways (INSW).

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