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Downtrend ResistanceArchive
- 9/5/2025 -
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Phillips 66 (PSX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Phillips 66 (PSX). During the week, the PSX dropped -2.03 points, or -1.52%, and closed at 131.55 on Friday, September 5, 2025. Weekly volume was -34% 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 April 5, 2024 at 174.08 and reached 91.01 on April 9, 2025. PSX lost 83.07 points, or 47.72%, in 52 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (131.80). 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 9, 2025 at 91.01 and reached 134.66 on July 10, 2025. PSX gained -43.65 points, or -47.96%, in 13 weeks. The price is now at the 7.12% retracement level.
 Weekly Technical Indicators: [See PSX weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 16, 2025. 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 August 11, 2025 at 118.07 and reached 134.34 on August 29, 2025. PSX gained -16.27 points, or -13.78%, in 18 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 127.58 and resistance is at 138.14. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See PSX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since August 15, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.
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