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Uptrend ExhaustionArchive
- 10/9/2026 -
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Phillips 66 (PSX) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the Phillips 66 (PSX). During the week, the PSX gained 13.60 points, or 5.14%, and closed at 278.18 on Friday, October 9, 2026. Weekly volume was -21% below average.
PSX is a member of Energy Sector. Energy is the most overbought 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 uptrend had started on April 9, 2025 at 91.01 and reached 286.57 on October 9, 2026. PSX gained -195.56 points, or -214.88%, in 78 weeks. Price is near the trend high.
 Medium-term trend: [See PSX medium-term trend chart]
A medium-term uptrend had started on June 18, 2026 at 164.10 and reached 286.57 on October 9, 2026. PSX gained -122.47 points, or -74.63%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 269.81 and resistance is at 300.20. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See PSX weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since July 10, 2026. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 September 29, 2026 at 248.51 and reached 286.57 on October 9, 2026. PSX gained -38.06 points, or -15.32%, in 10 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See PSX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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