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Shares of Phillips 66 Fall Below Previous 52-Week Low

By David Diaz

Phillips 66 (NYSE:PSX) traded today at a new 52-week low of $58.34. This new low was reached on below average trading volume as 764,000 shares traded hands, while the average 30-day volume is approximately 3.5 million shares.

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.

Phillips 66 (NYSE:PSX) has potential upside of 96.2% based on a current price of $58.39 and analysts' consensus price target of $114.59. The stock should find initial resistance at its 50-day moving average (MA) of $92.73 and further resistance at its 200-day MA of $100.33.

In the past 52 weeks, shares of Phillips 66 have traded between the current low of $58.34 and a high of $119.92 and are now at $58.39. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has slid 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Phillips 66 on November 27th, 2019 by issuing a Downtrend alert when the shares were trading at $114.68. Since that call, shares of Phillips 66 have fallen 44.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows phillips 66

Ticker(s): PSX