PBF Energy (PBF) shares are coiled and nearing an explosive breakout from value area above the 42 level after spending the past few weeks retesting the former trendline that was cleared and now seeing MACD ready to run higher as the energy name saw some large buys recently in October $40 calls as well as over 2700 April 2024 $40 calls bought today for $8.30 for the small cap refiner that surge quickly as it has a higher short float of 11% and the top of 2022 yearly value area at 43.63 also would trigger a longer term breakout higher.