When putting together your watch list, look for stocks with an 80 or higher RS Rating. Scorpio Tankers stock just met that criteria with a new score of 81.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
History reveals that the market's biggest winners tend to have an RS Rating north of 80 as they begin their biggest price moves.
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Is Scorpio Tankers Stock A Buy?
Scorpio Tankers stock is trying to complete a cup without handle with a 64.20 buy point. See if the oil & gas stock can break out in volume at least 40% higher than normal.
The oil & gas company reported negative growth for both sales and earnings last quarter.
Scorpio Tankers stock holds the No. 27 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Euronav and International Seaways are also among the group's highest-rated stocks.
