On Wednesday, Scorpio Tankers got a positive adjustment to its Relative Strength (RS) Rating, from 69 to 72.
Can You Really Time The Stock Market?
This unique rating identifies technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best stocks tend to have an RS Rating of over 80 in the early stages of their moves. See if Scorpio Tankers can continue to rebound and clear that threshold.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to offer and clear an appropriate buy point.
Although earnings and sales growth came in at -61% and -40%, respectively, in the latest report, that shows two quarters of improvement for EPS and one for revenue.
Scorpio Tankers earns the No. 18 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Hess Midstream, DT Midstream and Enbridge are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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