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Objective long/short (PSX) Report

Longer Term Trading Plans for PSX
  • Buy PSX slightly over 142.66 target n/a stop loss @ 142.25. Details
  • The technical summary data tells us to buy PSX near 142.66, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 142.25 to protect against excessive loss in case the stock begins to move against the trade. 142.66 is the first level of support below 145.66, and by rule, any test of support is a buy signal. In this case, if support 142.66 is being tested, a buy signal would exist.

  • NONE . Details
  • NONE .
    There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for PSX
  • Buy PSX slightly over 147.16, target 152.04, Stop Loss @ 146.74 Details
  • If 147.16 begins to break higher, the technical summary data tells us to buy PSX just slightly over 147.16, with an upside target of 152.04. The data also tells us to set a stop loss @ 146.74 in case the stock turns against the trade. 147.16 is the first level of resistance above 145.66, and by rule, any break above resistance is a buy signal. In this case, 147.16, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short PSX slightly near 147.16, target 142.66, Stop Loss @ 147.58. Details
  • The technical summary data is suggesting a short of PSX if it tests 147.16 with a downside target of 142.66. We should have a stop loss in place at 147.58 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 147.16, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for PSX
  • Buy PSX slightly over 147.16, target 147.65, Stop Loss @ 146.82 Details
  • If 147.16 begins to break higher, the technical summary data tells us to buy PSX just slightly over 147.16, with an upside target of 147.65. The data also tells us to set a stop loss @ 146.82 in case the stock turns against the trade. 147.16 is the first level of resistance above 145.66, and by rule, any break above resistance is a buy signal. In this case, 147.16, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short PSX slightly near 147.16, target 145.51, Stop Loss @ 147.5. Details
  • The technical summary data is suggesting a short of PSX if it tests 147.16 with a downside target of 145.51. We should have a stop loss in place at 147.5 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 147.16, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Real Time Updates are available on our Phillips 66 (PSX) Page here: PSX.

PSX Ratings for February 12:

Term →Near Mid Long
Rating Neutral Strong Strong
P1 0 0 122.31
P2 145.51 147.16 132.41
P3 147.65 152.04 142.66
Triggers may have already come
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Support and Resistance Plot Chart for PSX

PSX Long Term Analysis for February 12 2024

Blue = Current Price
Red= Resistance
Green = Support

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Phillips 66 (NYSE: PSX) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for PSX change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if PSX is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for PSX too.  All of these are offered below the Summary Table.