Hmmm, now where have I seen this name before? Oh, that’s right! It was from our sector analysis earlier where we identified the relative weakness. With an ATR of 2.6, any hard pop back into the 200d should offer a nice opp for a fade. Would even consider leaving room to add at the quarterly pivot at 75.32.
TV chart link:
I am looking at potential short positions on OIL related stocks as indicated by this example.
Phillips 66 has gone into a bearish mode with swing traders (around 30% of the market) losing on net longs positions with the wider market on average now being at break even.
Break-even price levels can mean either 1) important support areas, 2) break...
Support at handle low and mid cup/MC. Pocket pivot at 80.80.
Price is above the top band with the moving average set on 20. It is within the bands with the moving average set on 80.
This pattern is not to long entry level today.
Hey my friends, PHILLIPS 66 is in a bullish push with abnormal buying volume issued and a larger tail of buyers. Looking at the TIMEFRAME M1 we notice a marubozu with a very large volume of purchases exchanged. Strong possibility of breaking the price then the range to reach the one above and go to the last previous higher. Two highs on the MULTIFRAME between a...
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.
- Petroleum & Coal industries have reported growth in July 2020.
- Long term debt to equity ratio is in the lower spectrum.
- Diversified business makes it more sustainable in this difficult time.
- EPS expectation is very high for next year
- MACD line is rising above the signal line.
- Retraced down to Fibonacci level 61.7%...