Long Position on STNG @ $37.50 on 7/25/2022 (Momentum)

Scorpio Tankers Inc. (STNG) engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. 

As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years. 

On April 28th, Scorpio Tankers reported a 1st Quarter March 2022 loss of $0.27 per share on revenue of $174.0 million. The consensus estimate was a loss of $0.52 per share on revenue of $156.5 million. Revenue grew 29.7% on a year-over-year basis. Since then shares have formed a bullish "cup and handle" and are expected to move higher from this formation. The Company reports July28th.

Entry Point: $37.50

Stop Loss: $34.00

Trading Range: $11.02 to $39.62

Trget Price: $41.25

Position closed on 7/27/2022 at price of $41.30 with a 10.13% gain in 2 days.

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