Go long PBF here, risk a drop to 18.70. Valuation is very cheap, high dividend yield, and growth prospects for the long term. Good luck!
Ivan Labrie.
Kommentar
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I'm holding my shares into the earnings report. I own a protective put as well and I'm hedged via my short book as well. Hopefully this one doesn't fall with the rest.
Thanks for this. added 3 positions already with various TP till earnings date and will reassess then and at next fomc meeting.
Volatility is a bit high on this one but think worth the R/R.
IvanLabrie
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Hi, yes, regarding volatility, the stop is considerable but we can see a huge jump soon.
Cheers
aibek
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This is an alternative count in case it won't break up.
IvanLabrie
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I have no idea of the wave count.
aibek
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Hi! Good call, peers (VLO, TSO, MPC) are breaking up while PBF is lagging behind. It should break and finally close above 23.70 to explode higher. Fundamentals are good as you listed them, one weaker point comparing to peers - more debt burden.
aibek
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Also expect it at $27
IvanLabrie
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Hi, thanks for the comments. Indeed, it's undervalued as is, possibly a good one. MPC is in excellent shape to breakout higher.
Volatility is a bit high on this one but think worth the R/R.