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

By Nick Russo

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 $33.07 and $33.07 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.

In the past 52 weeks, shares of Pbf Energy Inc-A have traded between a low of $28.66 and a high of $53.91 and closed yesterday at $33.07, which is 15% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

PBF Energy Inc., together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics.

There is potential upside of 24.2% for shares of Pbf Energy Inc-A based on a current price of $33.07 and an average consensus analyst price target of $41.07. The stock should find initial resistance at its 50-day moving average (MA) of $33.85 and further resistance at its 200-day MA of $41.51.

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