IvanLabrie
Long

PBF: Potential long term long zone and daily swing trade

NYSE:PBF   PBF ENERGY INC CLASS A
PBF             has a nice bullish setup in the daily chart . After an extended decline, it's likely to move back up to meet the weekly downtrend mode after the time projected in the weekly expired right at the bottom. Daily charts are setting up as bullish with RgMov making a new high ahead of price, and a potential Time at mode uptrend signal about to confirm if the next daily bar stays above 22.70 until the close. In any event, probability of a move up is considerable, and specially backed by rising crude, SPY             , and the recent shortage of fuel in South America, which greatly benefits U.S. refiners like PBF             .
Long term longs can be established at these levels, risking a specific percentage weight in your portfolio, or perhaps you can take the technical setup here and go long risking either 3 times the daily ATR (I reccomend this) or risking a drop under 22.70 after Monday's close (if this level isn't retested).

Check out my updated track record here: http://pastebin.com/6CyyqnPT

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Cheers!

Ivan Labrie

Link to Tim West's chatroom: https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.


Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise             directly or indirectly from use of or reliance0.25% on such information.
Comment: PBF outperforming the market, shortages in gasoline are helping it rally.
Comment: I doubled my position here, stop is 20.72
Comment: You can rejoin if out.

snapshot
Agree with your call.

I have WNR and CVRR. Both run up nicely. Recently added PBF. No reason PBF should stay down forever.
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It's a great long term play here, and a nice dividend yield too!
I shorted deep in the money calls against my position, for one month, will rinse and repeat while it accumulates down here.
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coolingla PRO IvanLabrie
I intend to hold WNR and PBF for a few years. For CVRR, will watch and decide overtime if it's a good long term hold.

PBF could run up much faster than we think.
+1 Reply
Yes, I think so. But meanwhile, income is income. (also downside protection)
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