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Phillips 66 Looks to Continue to Trade Above its Annual-High Share Price Today

By David Diaz

Phillips 66 (NYSE:PSX) traded today at a new 52-week high of $120.55. Approximately 592,000 shares have changed hands today, as compared to an average 30-day volume of 2.6 million shares.

Phillips 66 (NYSE:PSX) is currently priced 4.9% above its average consensus analyst price target of $114.59. The stock should discover initial support at its 50-day moving average (MA) of $85.63 and subsequent support at its 200-day MA of $82.76.

In the past 52 weeks, shares of Phillips 66 have traded between a low of $73.67 and a high of $120.55 and are now at $120.45, which is 63% above that low price. The 200-day and 50-day moving averages have moved 0.06% lower and 0.05% higher over the past week, respectively.

Phillips 66 is a downstream energy company. The Company's operations include oil refining, marketing, and transportation. Phillips 66's operations also include chemical manufacturing and power generation.

SmarTrend recommended that subscribers consider buying shares of Phillips 66 on March 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $95.86. Since that recommendation, shares of Phillips 66 have risen 23.3%. We continue to monitor PSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows phillips 66

Ticker(s): PSX