PBF trade ideas
#PBF: Weekly uptrend, increasing demand amid driving seasonI like the setup in $PBF here, 35% upside at least from here vs a 14% downside risk. I'll keep an eye on the target zone, as this could move even higher over time, until the forecasted rally duration pans out. We had some great trades in this stock since the March 2020 bottom, last weekly signal panned out perfectly before, I think it will perform once again.
Best of luck,
Ivan Labrie.
PBF Energy Short Term TradeChart pattern: Bull Flag
Entry: 16.41$ (this would end the trend of the correction)
Stop: 14$
Target: 19.69$ (1:1 Fibonacci extension of the former impulsive move)
Risk/Reward-Ratio: > 1:1
Stopmanagement: Parabolic SAR daily chart default settings
PBF EnergyChart pattern: Bull flag
Entry: 16.05$ (this would end the secondary downtrend of the correction)
Stop: 12$
Target: 24.60$
Stopmanagement: ATR Stops daily chart default settings
Risk:Reward-Ratio: > 2:1
Description: The chart is forming a bull flag with a nice corrective pattern (which retraced under the 38 Fibonacci retracement). Target is the 1:1 Fibonacci extension of the former impuslive move.
Ordersize example: If you have a 10000K to trade and you only want to risk 1% of your volume, you can enter this trade with 400$.
PBF good recoveryWhy I didn't hold at 4 dollars, I have learn so much this 2020, when everybody is looking at NIO and TSLA, they missed the real opportunities, thanks I still got on time with REITS and other OIL stocks with high dividends.
The opportunity is where nobody sees it.
PBF: Bullish PennantBullish Pennant
Pros:
Descending volume during formation
PPS above 50MA and 200MA
Golden cross in blue
RS above 0, and ascending
ATR Ascending
R/R ratio above 6
Cons:
250RSI below 50
200MA flat
Target:
PT = 22.37$
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PBF > Buy PBF > Buy
> On this price breake Phase C LPS Wyckoff accumulation.
> Buy follows a trend on this price.
> Risk/Reward Ratio: 2.05
PBF great pullback!HI! PBF is down 14.7% today right into that support I like so much! Going long at 9.28 with a target of 10.50!
Interesting Volume Shelf & 21 Day EMAAmidst the market pullback, PBF appears to be looking to retest the volume shelf at 8.00 and 21 day EMA simultaneously. Price is descending with volume indicates a potential dip. This might be a great entry for a long position.
PBF: A Bullish ScenarioFor this scenario to work, PBF must regain $12 quickly, say within 1 week or 2.
PBF Moving upPBF trades very consistently IMO. If it runs 6/6/20. 36 days in a channel then three days of breaking resistance.
Sell/Short PBFRed star at the top
Oversold on Ichi
Toping out on MACD
Could be bull flag??? ;|
//as usual early on the trade ;)
S/L 47.22
T/P 44.14
R/R 3.95
Profit/Enjoy Trading~
PBF: Excellent 'Time at Mode' signalsPBF is tracing a downtrend, sadly, since it didn't bottom at the recent low...I had to take a loss on my recent entries, and I'll wait for it to hit the lower targets to reenter. My idea is perhaps to short put options at the target, and either get assigned, or get profit from the premium on expiry. Either way, it's a great trade if we take the long side.
Fundamentals are good, and this is a good addition to any portfolio, we just need to time a good entry here and let it ride. The yield is worth it.
Good luck,
Ivan Labrie.
