Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Phillips 66. is currently trading at $101.16 with a rise of 2.14% in the past 24 hours. However, the share price fell by -3.36% in the last 7 days.</a> </li> 
 <li> <span>2</span> <a>The PSX stock broke the major resistance level that was the 200-moving average.</a> </li> 
</ul> 
<p>Phillips 66 is a global energy company that specializes in refining, transporting, and selling natural gas liquids, petrochemicals, aviation fuels, motor fuels, and lubricants. The company also invests in emerging energy technologies and collaborates with Chevron.</p> 
<p>In the first quarter of 2023, the company earned $2.0 Billion or $4.20 per share and generated $1.2 Billion in operating cash flow. As of March 31, 2023, the company had $34.4 Billion in revenue, $77.3 Billion in assets, and $34.9 Billion in equity.&nbsp;</p> 
<p>The stock has a higher-than-average price-to-earnings ratio of 3.83x and an effective tax rate of 21.65%. The company reported a net income of $1.96 Billion and earnings per share of $4.21 for the first quarter of 2023. The company distributes $4.20 per share as a forward dividend, with a yield of 4.18%.</p> 
<h2 class="wp-block-heading" id="strong-phillips-66-stock-price-technical-analysis-strong"><strong>Phillips 66 Stock Price Technical Analysis</strong></h2> 
<p>On the daily time frame, the price of Phillips 66 is above the 50-day and 200-day MAs. However, the situation is uncertain because the price is consolidating in a narrow range around both moving averages.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="469" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Phillips-66-Stock-Price-Technical-Analysis-1024x469.webp" alt="Phillips 66 Stock Price Technical Analysis" class="wp-image-152752" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Phillips-66-Stock-Price-Technical-Analysis-1024x469.webp 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Phillips-66-Stock-Price-Technical-Analysis-300x137.webp 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Phillips-66-Stock-Price-Technical-Analysis-768x351.webp 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Phillips-66-Stock-Price-Technical-Analysis-750x343.webp 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Phillips-66-Stock-Price-Technical-Analysis-1140x522.webp 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Phillips-66-Stock-Price-Technical-Analysis.webp 1272w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: PSX/US DOLLAR by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>The RSI value of <a href="https://www.thecoinrepublic.com/2023/07/09/phillips-66-stock-nyse-psx-near-100-buying-spree-up-ahead/" rel="noopener noreferrer nofollow">PSX stock</a> is currently 60.44 points. The 14 SMA line is below the middle line, around 57.76 points which shows bullish momentum in the market. The RSi is heading toward the oversold area.</p> 
<p>The MACD indicator is in the positive zone indicating the price rise. The MACD line at 1.53 and signal line at 0.9860 is above the zero line. MACD is giving bullish signals currently.</p> 
<h3 class="wp-block-heading" id="strong-volume-analysis-strong"><strong>Volume Analysis</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="468" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Volume-Analysis-1-1024x468.webp" alt="Phillips 66 Volume Analysis" class="wp-image-152751" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Volume-Analysis-1-1024x468.webp 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Volume-Analysis-1-300x137.webp 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Volume-Analysis-1-768x351.webp 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Volume-Analysis-1-750x343.webp 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Volume-Analysis-1-1140x521.webp 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/Volume-Analysis-1.webp 1273w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: PSX/US DOLLAR by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>Phillips 66.’s average trading volume for the last 24 hours is 2.368 Million. The average volume for the last 10 days is 3.431 Million.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>The Phillips 66. stock (PSX) price is uncertain right now. The price may give a breakout depending on the market sentiment. Phillips 66. The stock chart is not showing decisiveness in the market. Technical indicators don’t look good. Investors and traders should wait for the perfect setup before taking any steps. They should also carefully monitor market trends and news to identify potential opportunities or risks.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li><strong>Support Level – </strong>The current support level of PSX stock is $95.69.</li> 
 <li><strong>Resistance Level – </strong>The current resistance level of PSX stock is $105.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is only for information and education purposes. Do not use this information as financial or trading advice. Trading and investing have financial risks. Before making any investment or trading decision, please think about your risk tolerance and situation.</p>

Phillips 66 Stock Price Prediction: What Next In PSX?

Table of Contents

Thecoinrepublic.com

Other articles published on Jul 19, 2023

Former FTX COO Constance Wang Joins Sino Global Capital

BTC Price Prediction : What Will Be The Price of Bitcoin After 2024 Halving?

Mining Firms Boost Security by Shifting Bitcoin to Exchanges Amid Rising Value

Binance Temporarily Pauses Trading, What's Happening?

Crypto Influencer Hopes To Rebuild Celsius After Founder’s Arrest

Biden’s opponent RFK Jr. pledges to back dollar with Bitcoin

Join our free newsletter for daily crypto updates!