We've got a little head and shoulders going on here and as long as the neckline is not broken, we could enter for a long position for a target of $30. We have also a bullish divergence going on with the RSI, so, I will consider entering a long trade if the price touches the neckline again. Also, if the neckline is broken, we could short for a target of possible $23.
We should reenter PBF longs here, we had great results the last time, buying against earnings support. Risk either 1 or 3 ATR's down from here.
If interested in my 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.
Cheers,...
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,...
The concept here is to use the KEY EARNINGS LEVELS as the important beginning and ending for your regression analysis. That way you KNOW the first and last points are extremely important price levels for the stock you are analyzing. Many times people use various, inconsistent methods to determine where to begin and end regressions and it yields unacceptable...
