One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Scorpio Tankers stock just hit that mark, with a jump from 77 to 82 Tuesday.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks typically have an 80 or better RS Rating in the early stages of their moves.
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Is Scorpio Tankers Stock A Buy?
Scorpio Tankers stock is currently trading just below its 50-day moving average. While the oil & gas stock is not near an ideal buy point right now, see if it goes on to form and break out of a proper chart pattern.
In terms of fundamentals, Scorpio Tankers has posted rising EPS growth in each of the last two reports. Revenue gains have also moved higher during the same period. Scorpio Tankers is expected to release its next quarterly numbers on or around Jul. 30.
Scorpio Tankers stock holds the No. 22 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Hess Midstream, Western Midstream Ptrs and DT Midstream are among the top 5 highly rated stocks within the group.
