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Phillips 66 Set to Possibly Pullback After Yesterday's Rally of 1.25%

By Nick Russo

Phillips 66 (NYSE:PSX) traded in a range yesterday that spanned from a low of $88.26 to a high of $88.45. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $87.45 on volume of 834,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Phillips 66 share prices have moved between a 52-week high of $123.97 and a 52-week low of $78.44 and are now trading 13% above that low price at $88.39 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.7%.

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.

Keywords: rebounders phillips 66

Ticker(s): PSX