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Phillips 66 Falls 1.38% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Phillips 66 (NYSE:PSX) traded in a range yesterday that spanned from a low of $89.50 to a high of $89.83. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $89.55 on volume of 566,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Phillips 66 and will alert subscribers who have PSX in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Phillips 66 share prices have been bracketed by a low of $80.24 and a high of $119.92 and are now at $88.89, 11% above that low price. The 200-day and 50-day moving averages have moved 0.09% lower and 1.81% lower over the past week, respectively.

Keywords: rebounders phillips 66

Ticker(s): PSX