The Greedy Trader Weekly Analysis
Sign In Jan 15, 2021
Skip Navigation Links
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Archive
- 1/8/2021 -
Sign In to see current Signals.

Phillips 66 (PSX)

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Broken trend support lineWilliams' Percentage Range is overboughtThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was a third consecutive positive week for the Phillips 66 (PSX). During the week, the PSX gained 0.77 points, or 1.10%, and closed at 70.71 on Friday, January 8, 2021. Weekly volume was -10% below average.

PSX is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See PSX long-term trend chart]
A long-term downtrend had started on November 8, 2019 at 119.92 and reached 40.04 on March 18, 2020. PSX lost 79.88 points, or 66.61%, in 18 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (44.26) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PSX may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See PSX medium-term trend chart]
A medium-term uptrend had started on October 29, 2020 at 43.27 and reached 73.78 on January 5, 2021. PSX gained -30.51 points, or -70.51%, in 9 weeks. The price is now at the 10.06% retracement level.

Weekly Technical Indicators: [See PSX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 6, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See PSX short-term trend chart]
A short-term uptrend had started on December 21, 2020 at 63.80 and reached 73.78 on January 5, 2021. PSX gained -9.98 points, or -15.64%, in 15 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (73.35) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.

Daily Technical Indicators: [See PSX daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is below its signal line since December 11, 2020. The distance between MACD and the signal line is low and getting smaller.

The distance between the Bollinger Bands is falling, and it was 9.39% on Friday. It is 65.75% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.76
Williams' Percentage Range (W%R) 12.70
Overbought
Lane's Stochastic (%D-Slow) 65.75
Greed/Fear Indicator (GFI) 72.26
Moving Average Converg./Diverg. (MACD) 2.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.04
Williams' Percentage Range (W%R) 4.20
Strong Overbought
Lane's Stochastic (%D-Slow) 89.93
Overbought
Greed/Fear Indicator (GFI) 81.90
Overbought
Moving Average Converg./Diverg. (MACD) -2.58
Trading Signals
Description Value Chart
Weekly Trendline Resistance 75.49
Weekly Trendline Support 73.35
Upper Bollinger Band 72.06
Weekly Stochastic Crossing 71.77
Daily Stochastic Crossing 71.49
Price 70.71
20 Day Moving Average 69.14
Parabolic System 67.19
Lower Bollinger Band 65.43
50 Day Moving Average 62.92
Quarterly Trendline Resistance 58.61
Sector and Industry
Description Name Rank
Sector Energy 12
Industry Oil & Gas Refining & Marketing 97
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 73.78
High Date 01/05/2021
Low 70.34
Low Date 01/06/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 75.49
Support 73.35
Low 63.80
Low Date 12/21/2020
High 73.78
High Date 01/05/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.27
Low Date 10/29/2020
High 73.78
High Date 01/05/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 58.61
Support 44.26
High 119.92
High Date 11/08/2019
Low 40.04
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 123.97
High Date 08/07/2018
Low 40.04
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

Copyright© 2004-2018 All rights reserved.