Looking at the bark I feel that what you have is a very young tree. Sure it will bud back. Mine are 90 years old. and have very rough old bark. I have not seen any buds at all like yours in three years.
I get them on all of my jacks.
Dont know how old they are but they are old.
A branch I removed from one had 48 growth rings.
If you hack one back real hard,like the one I have I found growing in a ditch that was hit with a brush hog every 5 years or so will back bud on old wood too.
Of course I follow your feeding and watering regimen precisely.
Also have you noticed that the candles continue to elongate up until winter?
I'm noticing that even after they set buds the things still grow. Making for longer internodes between needles.