Long

PBF Energy turnaround happening?

Fundamentals:

The stock is trading at 0.42x book value, and pays 5.58% dividend. Of course, if profitability deteriorates further, the dividend can be cut and the P/B value can fall lower, but!
PBF is doing a good job on cost cuts, in the last earnings report posted narrower loss than expected
The mexican company 'Control Empresarial de Capital' is continously buying shares of the company, and nor Carlos Slim, neither another insiders-holders selling shares.

Technicals:

The 100 day moving average is the Boogeyman for PBF Energy.
One year ago, early May 2024 the price lost it, and never got back above.
Death cross happened in 2024 July.
Got rejected by the 100MA 4 times, as seen on the picture. The 50day got under the 100, but not worked as support. In 2025 Jan-Feb it tried, but failed.
Is this time different?
A final washout is already happened to $13.45 in April.
In May 2025, the 100MA rejected the price again, but this time the 50MA held as support.
Now the price battles with the 100MA again, break above means a target of $25, as this is an unfilled gap of 2025 February, and the 200 day MA.

Short-term traders can set $25 as target.
Long-term investors can eye $32-36 with proper risk management, or continous buying-selling. Can take a year or two.

Note

Touched the 100MA again. Last time it happened, was dancing aroung for 5 trading days then fell. Will now work as support?

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