PSX looks like its heading for the $115 as investors are turning more bullish on the energy sector, huge rotation is taking place in the market, PSX had a 6% yield which is particularly attractive. AVERAGE ANALYSTS PRICE TARGET $118 AVERAGE ANALYSTS RECOMMENDATION overweight P/R RATIO 9 SHORT INTEREST 2% COMPANY PROFILE Phillips 66 engages in the...
PSX Put Spread $1.7 Cost EXP Sept 27th Market sentiments are bearish, This may move lower, weekly RSI looks like its bullish but daily and 4h are bearish. Support seems to be breaking down on price, looks like a high reward low risk entry. Lets see how it pans out. Profit Target is $165 USD max risk is $100. Bullish target is if it moves higher to $100 I lose...
My trading software detected a large double bottom in PSX (according to statistics, larger patterns result in higher performance). The price is still above the breakout line. Visit my site lookintotrade.com for: - free articles! - trading software - trading ideas
A&A double bottom with a coinciding target as are (D) for the harmonic
Understanding The trade: As an options trader my goal is to identify trend change and utilize a breakout strategy to leverage profit off of major trend changes with minimal risk. Even though this contract does not expire till 7/19 I will be looking to take profit by early july as the rate of decay factor starts to come into play as the contract approaches expiry....
I'm ready to hop in as soon as it hits a new low. It has plenty of room to run. I think this could be a trade that goes for a little more than 2R's.
Goes Ex-div on 17th, w/ .9 divi Good probability of hitting 50-61.8% retrace off of daily hammer on support. Target profit of 6.37-7.5% w/in 2 weeks. Just raised divi from .8 to .9
PSX has completed an inverse Head and Shoulders pattern but failed to breakout above the neckline. It's possible that this could be due to the imminent earnings report which will be released BMO on Friday. In my opinion investors - traders are waiting for this release before entering a long position. PSX is once again approaching the neckline area and a nice beat...
Just spent so long tryna get an exact match on fib levels I forgot which ticker I was looking @ smh. Anyways - easily a chart I have less than an A+ confidence on, but if you're like me & you heavily rely on your own strategy / indicators, you more-or-less start to see patterns / re-traces / setups that normally, you wouldn't spot if it wasn't one you had a 10/10...
PSX has been in an upward trend since reporting strong Q2 earnings. Over the last week, PSX has been consolidating and begun to form what looks like an ascending triangle pattern. I predict consolidation will continue for the next few days with a break in the near future above the upper horizontal trend line to continue its upward trend.
Nice Bull Flag setup on Phillips 66. Will be watching for a breakout to make an entry.
See Chart for details. Get time to get into a bullish trade at around $92 area or lower ($90). Then except a move up to at least $98, with would give you minimum of a 3 (REWARD) to 1 (RISK) or 3:1 ratio of return on your money. Just set your stop lost at $90 or $2 below entry, then go $6 above entry PA. "W" patterns (as in yellow square) is very good sign of...
Last week, Phillips66 stock tested the 200-day moving average and so far, that level has held up drawing a hammer. A likely rebound on the share price can be back up by a rise in the Crude Oil price this week. Stops below $89.80. Good luck fellow traders.
Engulfing bullish pattern in PSX.