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After Yesterday's Rally of 2.93% Shares Could Potentially Pullback

By Shiri Gupta

Phillips 66 (NYSE:PSX) traded in a range yesterday that spanned from a low of $104.17 to a high of $106.78. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $104.19 on volume of 765,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 8.2%. We continue to monitor PSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Phillips 66 share prices have moved between a 52-week high of $107.47 and a 52-week low of $73.67 and are now trading 45% above that low price at $106.57 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders phillips 66

Ticker(s): PSX