STNG Bullish possibly

5 במאי 2020

STNG - With oil prices so low and demand reduced due to corona virus there is excess oil needing to be stored so bullish on tankers for next 1-3 years. 2/3 last times it has broken middle bollinger band on the weekly chart it has done 100% moves, the other time 30%. Could be forming a nice curve bottom here. Volume increasing. Needs to get above 50MA and will turn bullish. Could be a good hold for the next 12 months, watch carefully.