Scorpio Tankers Technical Analysis (NYSE:STNG)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. The Scorpio Tankers stock price data and volume are plotted in STNG stock charts and these trading charts form the basis of technical analysis.
See Scorpio Tankers bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. 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 longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Scorpio Tankers are mostly signals of long term trends and will help long term traders.
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 $2.81, upper band is 3.12, lower band is 2.68, and the average is 2.9.
Scorpio Tankers Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Scorpio Tankers MACD indicator can be used to identify bullish and bearish trends for the stock.
Scorpio Tankers Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . The relative strength index of STNG stock is 49.