STNG (Scorpio Tankers Inc) looks to offer an objective, yet aggressive long entry here on a breakout above this large bullish falling wedge pattern. Suggested stop on a 60-minute candlestick close below 4.25 with the sole price target, T1, at 5.34 & the possibility of a second price target to be added around the 6.45 level, depending on how the charts of STNG & the shipping sector play out going forward. The suggested beta-adjustment for this aggressive, highly volatile stock is 0.50.
STNG daily 2 Dec 9th