STNG - Long Idea
Fundamentals: STNG is a crude product tanker operating mostly on spot rates. Demand for crude products remains resilient in the ST due to strong refinery activity coupled with a slowing growth of shipping tanker supply moving into 2017.
Technically, stock looks ready to breakout to low 7's as per the chart. Movement supported by many key levels.
We only trade on high probability trades and have entered into a long with a 2.5:1 risk-reward ratio.
Technically, stock looks ready to breakout to low 7's as per the chart. Movement supported by many key levels.
We only trade on high probability trades and have entered into a long with a 2.5:1 risk-reward ratio.
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