Scorpio Tankers Technical Analysis (NYSE:STNG)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. The Scorpio Tankers stock price data and volume are plotted in STNG stock charts and these trading charts form the basis of technical analysis.
You can view Simple Moving Average (SMA 20 day, 50 day & 100 day), Exponential Moving Average (EMA 20 day, 50 day & 100 day) charts, and Bollinger Bands for Scorpio Tankers. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Scorpio Tankers stock analysis.
Scorpio Tankers Moving Average:
Moving averages help predict the price direction of STNG stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $4.14 is below the last closing price of $4.58 and the 50 day moving average of $4.05 is below the $4.58 price. The 10 and 20 day periods can predict short term moving average trends.
Scorpio Tankers Bollinger Bands:
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the STNG stock. Scorpio Tankers bollinger bands show that the stock price is $4.58, upper band is 12.6, lower band is 12.21, and the average is 13.
Scorpio Tankers Moving Average Convergence Divergence or MACD:
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Scorpio Tankers MACD line is below the signal line.
Scorpio Tankers Relative Strength Index:
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of STNG stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position. .