30 days expected move:$8
PSX has a nice flag off the March lows, which briefly got it above its long-term trend line from 2015 before immediately giving it back up again. That flag has also now broken into a bearish, downward-sloping channel. And finally, it trades well below both its 50- and 200-day moving averages. This is a short.
Fundamentals - Petroleum & Coal industries have reported growth in July 2020. - Long term debt to equity ratio is in the lower spectrum. - Diversified business makes it more sustainable in this difficult time. - EPS expectation is very high for next year Technicals - MACD line is rising above the signal line. - Retraced down to Fibonacci level 61.7%...
Hitting a support, RSI oversold and hitting a support there as well. Could it be this simple?
Daily chart has never been this oversold. Good opportunity for a bounce imho. NYSE:PSX
$PSX Confluence zone between horizontal support with 0.61 Fibonnaci retracement and EMA 200. Weekly chart. Phillips 66 is expected to report earnings on 01/31/2020 before market open
The bearish candle on 8 Jan shows how strong the sellers are pushing down the price and it is highly likely to see more selldown this week or so till it finds support at the 2nd level , i.e. 99.81 or at the 3rd level of support at 95.17. I believe years ago, this was one of the biggest holding of Berkshire Hathaway (Warren Buffet) but he has since been...
Reversal of a steady downtrend will occur due to hitting previous resistance and a key resistance line. The RSI is approaching oversold and the stock is very good to be watched and bought at the moment.
this is a nice PSX. prviate note! item 1 item 2 item 3 that's it!
Ichimoku is setting up beautiful support on the weekly chart. You don’t wanna miss this one. Target entry around $117-$118
I've taken a short position on $PSX at $106.56 this day, October 10th, 2019. Posting the truth of this trade does not constitute a recommendation to anyone to buy or sell any financial instrument.
PHILLIPS 66 BREAKOUT FROM DOUBLE BOTTOM
Prior to the events in Saudi Arabia this weekend , PSX was already on the cusp of a breakout, surely hostilities in the middle east can only stimulate the move. Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and...