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Phillips 66 Falls 3.07% 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 $71.40 to a high of $73.36. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $73.78 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Phillips 66 share prices have moved between a 52-week high of $119.92 and a 52-week low of $40.04 and are now trading 77% above that low price at $70.99 per share. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.3%.

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