The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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Phillips 66
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Summary:
Weekly :Oversold sectorBroken trend resistance lineLane's Stochastic is oversoldStochastic has raised above the signal line
Daily :Stochastic has raised above the signal lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 8 consecutive negative weeks for the Phillips 66 (PSX). During the week, the PSX gained 4.72 points, or 5.84%, and closed at 85.52 on Friday, June 7, 2019. It was the best weekly gain since January 4, 2019. Weekly volume was 6% above average.

PSX is a member of Basic Materials Sector. Basic Materials is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PSX long-term trend chart]
A long-term downtrend had started on August 7, 2018 at 123.97 and reached 78.44 on December 24, 2018. PSX lost 45.53 points, or 36.73%, in 19 weeks. The price is now at the 15.55% retracement level.

Medium-term trend: [See PSX medium-term trend chart]
A medium-term downtrend had started on April 12, 2019 at 99.73 and reached 80.24 on May 31, 2019. PSX lost 19.49 points, or 19.54%, in 7 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (79.08) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See PSX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 below its signal line since May 3, 2019. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See PSX short-term trend chart]
A short-term uptrend had started on May 31, 2019 at 80.24 and reached 85.95 on June 6, 2019. PSX gained -5.71 points, or -7.12%, in 6 days. The price is now at the 7.53% retracement level.

Daily Technical Indicators: [See PSX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.57
Williams' Percentage Range (W%R) 40.10
Lane's Stochastic (%D-Slow) 73.59
Greed/Fear Indicator (GFI) 62.02
Moving Average Converg./Diverg. (MACD) -2.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.94
Williams' Percentage Range (W%R) 74.70
Lane's Stochastic (%D-Slow) 11.98
Oversold
Greed/Fear Indicator (GFI) 25.57
Moving Average Converg./Diverg. (MACD) -2.74
Trading Signals
Description Value Chart
50 Day Moving Average 90.39
Upper Bollinger Band 89.26
Price 85.52
Daily Stochastic Crossing 85.05
20 Day Moving Average 84.55
Weekly Stochastic Crossing 82.81
Monthly Trendline Resistance 81.62
Lower Bollinger Band 81.30
Parabolic System 80.61
Monthly Trendline Support 79.08
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Oil & Gas Refining/Mrktng 22
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 80.24
Low Date 05/31/2019
High 85.95
High Date 06/06/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 80.24
Low Date 05/31/2019
High 85.95
High Date 06/06/2019
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 81.62
Support 79.08
High 99.73
High Date 04/12/2019
Low 80.24
Low Date 05/31/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 100.41
High Date 03/19/2019
Low 80.24
Low Date 05/31/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 123.97
High Date 08/07/2018
Low 78.44
Low Date 12/24/2018
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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