PBF Energy Inc

The stock is in a Stage 2 advancing impulse supported by a Lockout Rally, driving urgency and forced participation. Price has extended significantly above rising EMAs with extreme overbought readings; however, the Lockout Rally dynamics justify immediate participation. We recommend buying now to join the continuation at the breakout zone above prior resistance, with focus on shallow pullbacks into the 9/21 EMA support area.

• ↑Pending Martinez refinery restart restores ~270k bpd capacity, easing CA supply constraints
• ↑Refining crack spreads near multi-year highs amid tightening global capacity
• ↓Martinez restart delays drive $11.5 M higher OPEX, prolonging uncertainty