Phillips 66 Technical Analysis (NYSE:PSX)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the Phillips 66 stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the PSX stock chart which creates a trading signal.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Phillips 66. The technical analysis form of Phillips 66 stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
Phillips 66 Moving Average
Moving averages show the average price of PSX stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. The 20 day moving average of $97.05 is above the last closing price of $89.58 and the 50 day moving average of $100.04 is above the last closing price of $89.58. The 10 and 20 day periods can predict short term moving average trends.
Phillips 66 Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the PSX stock. The stock price is trading between the average and the lower band in the context of Phillips 66 bollinger bands.
Phillips 66 Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Phillips 66 MACD indicator can be used to identify bullish and bearish trends for the stock.
Phillips 66 Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. If the RSI of PSX stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.