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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. Today's price range of $28.09 and $28.38 is within yesterday'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.

Over the past year, Pbf Energy Inc-A has traded in a range of $23.67 to $53.91 and is now at $28.23, 19% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 1.8%.

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

Pbf Energy Inc-A (NYSE:PBF) has potential upside of 45.5% based on a current price of $28.23 and analysts' consensus price target of $41.07. The stock should find initial resistance at its 50-day moving average (MA) of $29.75 and further resistance at its 200-day MA of $36.31.

SmarTrend is monitoring the recent change of momentum in Pbf Energy Inc-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Pbf Energy Inc-A in search of a potential trend change.

Keywords: bearish inside day candle pbf energy inc-a

Ticker(s): PBF