PBF: Interesting long in the making
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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.
Cheers,
Ivan Labrie.
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.
Cheers,
Ivan Labrie.
Ghi chú
Bought the dip against earnings support today, nice move so far.Giao dịch đang hoạt động
Ghi chú
A few points in profit, let's wait patiently, I see it hitting the 40s easily.Ghi chú
Today's close back above earnings shows that the buyers are in control and the stock is being accumulated.Ghi chú
Take off gentlemen, see you at 40.Ghi chú
Acting great, I've accumulated a position in this range for a while. I hope my followers did too!
Cheers.
Ghi chú
Reporting earnings today, we might see a large push to the upside with some luck.Giao dịch được đóng thủ công
I closed my longs after the earnings report.
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