dereckcoatney

Phillips 66 Is Out of Gas

Short
NYSE:PSX   Phillips 66
PSX has a nice flag off the March lows, which briefly got it above its long-term trend line from 2015 before immediately giving it back up again. That flag has also now broken into a bearish , downward-sloping channel.

And finally, it trades well below both its 50- and 200-day moving averages. This is a short.