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Archive
- 11/6/2026 -
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Phillips 66 (PSX) Technical Analysis
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| Summary:
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| | It was the negative week for the Phillips 66 (PSX). During the week, the PSX dropped -37.11 points, or -13.12%, and closed at 245.72 on Friday, November 6, 2026. Weekly volume was 49% above average.
 Long-term trend: [See PSX long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 40.04 and reached 299.39 on October 19, 2026. PSX gained -259.35 points, or -647.73%, in 343 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (239.68). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See PSX medium-term trend chart]
A medium-term uptrend had started on April 17, 2026 at 153.58 and reached 299.39 on October 19, 2026. PSX gained -145.81 points, or -94.94%, in 26 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See PSX weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since July 10, 2026. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See PSX short-term trend chart]
A short-term downtrend had started on October 19, 2026 at 299.39 and reached 243.02 on November 6, 2026. PSX lost 56.37 points, or 18.83%, in 18 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend support (247.75) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.
 Daily Technical Indicators: [See PSX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since October 21, 2026. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
 Candlestick pattern: [See PSX candlestick chart pattern]
On Friday the chart has formed a Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.
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