I like the setup in $PBF here, 35% upside at least from here vs a 14% downside risk. I'll keep an eye on the target zone, as this could move even higher over time, until the forecasted rally duration pans out. We had some great trades in this stock since the March 2020 bottom, last weekly signal panned out perfectly before, I think it will perform once...
Chart pattern: Bull Flag
Entry: 16.41$ (this would end the trend of the correction)
Stop: 14$
Target: 19.69$ (1:1 Fibonacci extension of the former impulsive move)
Risk/Reward-Ratio: > 1:1
Stopmanagement: Parabolic SAR daily chart default settings
Chart pattern: Bull flag
Entry: 16.05$ (this would end the secondary downtrend of the correction)
Stop: 12$
Target: 24.60$
Stopmanagement: ATR Stops daily chart default settings
Risk:Reward-Ratio: > 2:1
Description: The chart is forming a bull flag with a nice corrective pattern (which retraced under the 38 Fibonacci retracement). Target is the...
Why I didn't hold at 4 dollars, I have learn so much this 2020, when everybody is looking at NIO and TSLA, they missed the real opportunities, thanks I still got on time with REITS and other OIL stocks with high dividends.
The opportunity is where nobody sees it.
Bullish Pennant
Pros:
Descending volume during formation
PPS above 50MA and 200MA
Golden cross in blue
RS above 0, and ascending
ATR Ascending
R/R ratio above 6
Cons:
250RSI below 50
200MA flat
Target:
PT = 22.37$
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Amidst the market pullback, PBF appears to be looking to retest the volume shelf at 8.00 and 21 day EMA simultaneously. Price is descending with volume indicates a potential dip. This might be a great entry for a long position.
