When building your watchlist, it’s important to look for stocks that have an RS rating of 80 or higher. Scorpio Tankers (STNG) shares recently met this criteria with a new score of 81.

Relative price strength is a key factor to consider when looking for the best stocks to buy and watch. IBD’s RS Rating provides a unique measurement of a stock’s technical performance, ranging from 1 (worst) to 99 (best), that compares its price over the past 52 weeks to other publicly traded companies. Analysis of historical data shows that the best players in the market usually have an RS score above 80 when they start their major price movements.

In the case of Scorpio Tankers stock, it is currently trying to form a cup without a handle pattern with a buy point of 64.20. Investors should watch for a volume breakout that is at least 40% higher than the average.

In its most recent quarter, the oil and gas company reported negative growth in both sales and earnings. Among its peers in the Oil & Gas Transportation/Pipeline industry group, Scorpio Tankers shares rank 27th. Other highly rated stocks in the same group include Euronav (EURN) and International Seaways (INSV).

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By Editor