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Watch for Phillips 66 to Potentially Rebound After Falling 1.28% Yesterday

By Nick Russo

Phillips 66 (NYSE:PSX) traded in a range yesterday that spanned from a low of $110.07 to a high of $112.60. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $112.94 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Phillips 66. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Phillips 66 in search of a potential trend change.

In the past 52 weeks, Phillips 66 share prices have been bracketed by a low of $89.14 and a high of $123.97 and are now at $110.62, 24% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.3%.

Keywords: rebounders phillips 66

Ticker(s): PSX