PBF: Interesting long in the making

10 months ago
PBF             has broken the inside downtrend line, forming a mode after rallying above earnings resistance.
Free cash flow has turned positive recently, and the stock looks to be accumulated and ready to rally very soon.
The dividend yield is quite attractive and I think we can see some nice upside in due time intil FCF yield is low again.

Look to enter longs at market, specially if the day turns up tomorrow, keeping stops under 31, or using 3 times the ATR value for them.
PBF             might benefit indirectly from the rising crude oil             price, but it's a company that can do well even while crude is falling, which makes it an attractive stock to go long on dips.

Good luck if taking this trade.

If interested in my professional trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.


Ivan Labrie.
10 months ago
Comment: Bought the dip against earnings support today, nice move so far.
10 months ago
Trade active
10 months ago
Comment: A few points in profit, let's wait patiently, I see it hitting the 40s easily.
10 months ago
Comment: Today's close back above earnings shows that the buyers are in control and the stock is being accumulated.
10 months ago
Comment: Take off gentlemen, see you at 40.
10 months ago

Acting great, I've accumulated a position in this range for a while. I hope my followers did too!
10 months ago
Comment: Reporting earnings today, we might see a large push to the upside with some luck.
10 months ago
Trade closed manually: I closed my longs after the earnings report.
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