Phillips 66 Is Out of Gas
PSX has a nice flag off the March lows, which briefly got it above its long-term trend line from 2015 before immediately giving it back up again. That flag has also now broken into a bearish, downward-sloping channel.
And finally, it trades well below both its 50- and 200-day moving averages. This is a short.
And finally, it trades well below both its 50- and 200-day moving averages. This is a short.
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