Phillips 66 Stock Forecast
Phillips 66 stock price ended at $143.61 on Friday, after losing 0.181%.
(Updated on May 03, 2024)
The Phillips 66 stock price fell by -0.181% on the last day (Friday, 3rd May 2024) from $143.87 to $143.61. During the last trading day the stock fluctuated 1.84% from a day low at $142.06 to a day high of $144.67. The price has fallen in 6 of the last 10 days and is down by -7.17% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -489 thousand shares and in total, 2 million shares were bought and sold for approximately $254.61 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $140.67 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.67% during the next 3 months and, with a 90% probability hold a price between $152.86 and $193.14 at the end of this 3-month period.
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PSX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 2.42%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Phillips 66 stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $147.30 and $158.52. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Phillips 66 stock
Phillips 66 finds support from accumulated volume at $143.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.61 between high and low, or 1.84%. For the last week, the stock has had daily average volatility of 3.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PSX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Phillips 66 to open at $143.45, and during the day (based on 14 day Average True Range), to move between $139.40 and $147.82, which gives a possible trading interval of +/-$4.21 (+/-2.93%) up or down from last closing price. If Phillips 66 takes out the full calculated possible swing range there will be an estimated 5.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $143.55 (0.04%) than the resistance at $151.41 (5.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Phillips 66 stock A Buy?
The Phillips 66 stock holds several negative signals and despite the positive trend, we believe Phillips 66 will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.111 Sell Candidate Unchanged
Predicted Opening Price for Phillips 66 of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $143.45 ( 0.114%) | $143.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 146.06 | 1.70 % | |
| R2 | 145.06 | 1.01 % | ||
| R1 | 144.44 | 0.581 % | ||
| Current price: | 143.61 | |||
| Support | S1 | 142.45 | -0.81 % | |
| S2 | 141.83 | -1.24 % | ||
| S3 | 140.84 | -1.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 163.34 | 13.74 % | |
| R2 | 159.03 | 10.74 % | ||
| R1 | 151.41 | 5.43 % | ||
| Current price | 143.61 | |||
| Support | S1 | 143.55 | -0.0418% | |
| S2 | 143.21 | -0.279% | ||
| S3 | 141.14 | -1.72% |
PSX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | May 17, 2024 | Jun 03, 2024 | $1.15 | 0.80% |
| 2 | Feb 07, 2024 | Feb 16, 2024 | Mar 01, 2024 | $1.05 | 0.728% |
| 3 | Oct 06, 2023 | Nov 16, 2023 | Dec 01, 2023 | $1.05 | 0.81% |
| 4 | Jul 12, 2023 | Aug 17, 2023 | Sep 01, 2023 | $1.05 | 0.90% |
| 5 | May 10, 2023 | May 19, 2023 | Jun 01, 2023 | $1.05 | 1.13% |
FAQ
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