The Chart of the Day belongs to the petroleum refiner PBF Energy (PBF). I found the stock by using Barchart’s powerful screening function to find the stock with the highest Weighted Alpha and technical buy signals that are closest to their 52 week highs, then used the Flipchart function to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 3/8 the stock gained 24.09%. The stock hit a new high today.
PBF Energy Inc., together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products. The company sells its products in Northeast, Midwest, Gulf Coast, and West Coast of the United States, as well as in other regions of the United States, Canada, and Mexico. It also offers various rail, truck, and marine terminaling services, as well as pipeline transportation and storage services. As of December 31, 2021, the company owned and operated six oil refineries and related assets. PBF Energy Inc. was founded in 2008 and is based in Parsippany, New Jersey. (Source: Seeking Alpha)
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Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:
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