• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Pbf Energy Inc-A (NYSE:PBF)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Pbf Energy Inc-A (NYSE:PBF) based on the price action in the company's shares. Yesterday's price range of $30.93 and $31.44 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Pbf Energy Inc-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Pbf Energy Inc-A (NYSE:PBF) has potential upside of 31.2% based on a current price of $31.31 and analysts' consensus price target of $41.07. The stock should discover initial support at its 50-day moving average (MA) of $30.98 and subsequent support at its 200-day MA of $28.87.

Over the past year, Pbf Energy Inc-A has traded in a range of $21.09 to $37.03 and closed yesterday at $31.31, 48% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

PBF Energy Inc. is an independent petroleum refiner and supplier. The Company offers unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. PBF's finished products are sold through long-term offtake and supply agreements.

SmarTrend is tracking the current trend status for Pbf Energy Inc-A and will alert subscribers who have PBF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle pbf energy inc-a

Ticker(s): PBF