PBF Energy Stock Forecast
Weaker technical forecast for PBF Energy as stock downgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The PBF Energy stock price gained 0.487% on the last trading day (Friday, 26th Apr 2024), rising from $57.50 to $57.78. During the last trading day the stock fluctuated 2.52% from a day low at $56.46 to a day high of $57.88. The price has been going up and down for this period, and there has been a -3.25% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 122 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $68.04 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.98% during the next 3 months and, with a 90% probability hold a price between $65.31 and $79.13 at the end of this 3-month period.
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PBF Signals & Forecast
The PBF Energy stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $56.83 and $57.04. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -6.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PBF Energy stock
On the downside, the stock finds support just below today's level from accumulated volume at $51.06 and $48.16. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PBF Energy finds support just below today's level at $51.06. If this is broken, then the next support from accumulated volume will be at $48.16 and $46.43.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.42 between high and low, or 2.52%. For the last week, the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: $54.92 (-4.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (PBF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect PBF Energy Inc to open at $57.37, and during the day (based on 14 day Average True Range), to move between $55.94 and $59.62, which gives a possible trading interval of +/-$1.84 (+/-3.19%) up or down from last closing price. If PBF Energy Inc takes out the full calculated possible swing range there will be an estimated 6.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $59.07 (2.23%) than the support at $51.06 (11.63%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
PBF Energy will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.550. We will update the financials statements for PBF Energy, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.85% in the first trading day after earnings release.
Is PBF Energy Inc stock A Buy?
PBF Energy holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.724 Hold/Accumulate Downgraded
Predicted Opening Price for PBF Energy Inc of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$57.37 ( 0.704%) | $57.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 58.79 | 1.75 % | |
R2 | 58.25 | 0.81 % | ||
R1 | 57.92 | 0.235 % | ||
Current price: | 57.78 | |||
Support | S1 | 56.83 | -1.64 % | |
S2 | 56.50 | -2.22 % | ||
S3 | 55.95 | -3.16 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 61.29 | 6.07 % | |
R2 | 59.50 | 2.98 % | ||
R1 | 59.07 | 2.23 % | ||
Current price | 57.78 | |||
Support | S1 | 51.06 | -11.63% | |
S2 | 48.16 | -16.65% | ||
S3 | 46.43 | -19.64% |
PBF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 28, 2024 | Feb 28, 2024 | Mar 14, 2024 | $0.250 | 0.457% |
2 | Nov 02, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.250 | 0.563% |
3 | Aug 03, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.200 | 0.427% |
4 | May 05, 2023 | May 16, 2023 | May 31, 2023 | $0.200 | 0.543% |
5 | Feb 16, 2023 | Feb 28, 2023 | Mar 16, 2023 | $0.200 | 0.493% |
FAQ
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