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- 6/26/2020 -
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Phillips 66 (PSX)

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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend support line
Daily :Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldPrice has crossed below the 50 Day Moving Average
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It was the negative week for the Phillips 66 (PSX). During the week, the PSX dropped -6.63 points, or -8.88%, and closed at 68.07 on Friday, June 26, 2020. Weekly volume was -35% below average.

Long-term trend: [See PSX long-term trend chart]
A long-term downtrend had started on August 7, 2018 at 123.97 and reached 40.04 on March 18, 2020. PSX lost 83.93 points, or 67.70%, in 84 weeks. The price is now at the 33.40% retracement level.

Medium-term trend: [See PSX medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 40.04 and reached 89.79 on June 8, 2020. PSX gained -49.75 points, or -124.25%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (86.01) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. PSX may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See PSX weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since May 8, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See PSX short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 89.79 and reached 67.96 on June 26, 2020. PSX lost 21.83 points, or 24.31%, in 18 days. Price is near the trend low.

Daily Technical Indicators: [See PSX daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since June 10, 2020. This is an indication that the short-term trend is down.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 20.36
Williams' Percentage Range (W%R) 91.90
Strong Oversold
Lane's Stochastic (%D-Slow) 13.63
Oversold
Greed/Fear Indicator (GFI) 14.03
Oversold
Moving Average Converg./Diverg. (MACD) 0.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.97
Williams' Percentage Range (W%R) 44.20
Lane's Stochastic (%D-Slow) 74.75
Greed/Fear Indicator (GFI) 62.21
Moving Average Converg./Diverg. (MACD) -6.91
Trading Signals
Description Value Chart
Upper Bollinger Band 87.07
Weekly Stochastic Crossing 82.42
20 Day Moving Average 78.02
Parabolic System 76.54
50 Day Moving Average 73.86
Daily Stochastic Crossing 69.34
Price 68.07
Lower Bollinger Band 63.35
Sector and Industry
Description Name Rank
Sector Energy 3
Industry Oil & Gas Refining & Marketing 54
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 78.41
High Date 06/19/2020
Low 67.96
Low Date 06/26/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.79
High Date 06/08/2020
Low 67.96
Low Date 06/26/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 100.30
Support 86.01
Low 40.04
Low Date 03/18/2020
High 89.79
High Date 06/08/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 119.92
High Date 11/08/2019
Low 40.04
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 123.97
High Date 08/07/2018
Low 40.04
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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