Phillips 66 stock: buy or sell
Jan 27th, 2021
Phillips 66 stock brief
- Counting on Tuesday, it's been 4 consecutive sessions in negative for Phillips 66. Price closed on Tuesday at $71.31 after sliding a -1.07%.
- Phillips 66 is presenting its earnings report on Friday
- Price is drawing a scaled uptrend since last October with higher tops and higher bottoms. Up to date, the uptrend made a 67.36% gain since the beginning of this rally
- UBS Group posted a strong bullish rating for Phillips 66 on Tuesday, forecasting $66.00
- Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S).
Should I buy Phillips 66 stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $PSX stock a buy?
Currently, Phillips 66 stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for $PSX in the next few days, or that it may not climb higher. Simply, it doesn't match our recommended trading systems
Should I sell Phillips 66 stock?
Knowing when to sell a stock is even harder than knowing when to buy it. Much like when we have to buy shares, determining when is appropiate time to sell is not a random decision, and we must adhere our own trading strategy. Our trading system selects very simple strategies to guide us on when is a good moment to sell a stock. Be aware that these strategies should not be used for selling short $PSX stock
A golden rule is that you should not mantain a trading operation that shows a losses greater than those expected by the time of the buy. The moment to sell your stock always has to be dictated by the stop-loss (automatic or manual)
Is it time to sell Phillips 66 stock?
Currently, Phillips 66 stock doesn't match any of our preferred sell setups, so if you hold Phillips 66 stock and your operation is in profit probably is not time to sell now
Phillips 66 ratings
In the last 30 days, 2 ratings were published for Phillips 66
|Jan 21st, 2021|
|Tudor Pickering|| |
|Jan 26th, 2021|
|UBS Group|| |
Phillips 66 stock analysis
Since last October, Phillips 66 has been drawing an uptrend that so far marked an amazing 67.36%. The chart shows rising tops and bottoms, and along the way gave very few buying opportunities for those who wanted to trade in. Latest low was in mid-December, when price bounced at $63.80. Now, it swings in a consolidation between its last top ($75.96) and its last bottom ($63.80)
Supports and resistances
The current resistances are:
The current supports are:
Since the price surpassed the upper band on January 20, the price has corrected downwards by 6.12%
Relative strength index
The RSI dropped below the overbought level of 70 last November after just crossing to the overbough zone for a single day (weak signal). The RSI value on Tuesday was 51.89
Phillips 66 stock price history
Phillips 66 started trading priced at an adjusted price1 of $25.54 on Apr 2012. Since then, PSX stock has risen by 179.21%, with an average of 22.40% per year. An investment of thousand dollars at that time would be valued $2,792.09 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Phillips 66 stock
Nobody knows how much a stock will be priced in the future. However, many stock price predictions are published every day by banks, financial institutions and independent analysts.
The following table shows the price forecasts published by financial institutions in the last 30 days. If you are a small trader you must not trade based on these forecasts.
There is just one price target available for Phillips 66 that forecasts a price of $66.00.
|Brokerage firm||Price target|
|Jan 21st, 2021|
|Tudor Pickering||Not available|
|Jan 26th, 2021|
Earnings and financials
Phillips 66 ($PSX) will host the quarterly earnings call on Friday. Estimated for this quarter is $-1.06, compared to $-0.01 that was reported for Q3.
Stocks presenting financial report usually show a much higher volatility in price action during after-hours trading and the day after. This volatility may imply that your stop-loss orders may become ineffective or may trigger far from your aimed price. You can find more details about the earnings call and the earnings reports on the Investor Relations section of its website: http://www.phillips66.com.
Earnings call was hosted by Phillips 66 ($PSX) last October after releasing the earnings report. Phillips 66 topped consensus earnings estimates and posted of $-0.01, that is a 98.73% improvement versus the previous estimates of $-0.79. To the contrary, reported sales were $16.3 billion versus estimates of $17.2 billion.Compared to the same quarter one year ago, EPS was $3.11, so reported EPS means a decrease of -100.32%. Turnover dropped a -41.48% on an annualized basis in the , from $272.2B to $159.3B last quarter.
Phillips 66 performance
|Phillips 66 ($PSX)||3.10%||45.90%||14.50%|
Disclaimer:The comments written in this article are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this report does not have any knowledge of the individual circumstances of the reader, his or her own finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are published for education motives only
Phillips 66 summary
|Tuesday, January 26th, 2021|
|Day range||$71.26 - $74.08|
|Average true range||$3.07|
|50d mov avg||$67.89|
|100d mov avg||$59.93|
|200d mov avg||$63.14|
|Earnings date||January 29th, 2021|