STNG Sitting on Support

5 มิ.ย. 2020

This stock is sitting on support of around $16.50 to $16.60 area. This would be a good price for a long entry. Looking at the risk/reward ratio, it seems to be quite safe to risk 5%, since the last time $15.64 was hit was more than a month ago. Furthermore, according to the Stoch RSI, the stock is currently oversold, which made any further dip quite unlikely. Target price would be at $20.