 |
 |
 |
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Featured MNV Articles:
| PSX Crosses Critical Technical IndicatorBy Energy Stock Channel Staff, Friday, June 1, 4:44 PM ET
In trading on Friday, shares of Phillips 66 (NYSE:PSX) entered into oversold territory, changing hands as low as $29.38 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of Phillips 66, the RSI reading has hit 29.2 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.9, the RSI of WTI Crude Oil is at 13.1, and the RSI of Henry Hub Natural Gas is presently 46.8. A bullish investor could look at PSX's 29.2 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), PSX's low point in its 52 week range is $28.75 per share, with $37.45 as the 52 week high point — that compares with a last trade of $29.56. Phillips 66 shares are currently trading off about 1.6% on the day.
According to the ETF Finder at ETF Channel, PSX makes up 1.50% of the Energy Select Sector SPDR Fund ETF (AMEX:XLE) which is trading lower by about 2.4% on the day Friday. See what other ETFs contain PSX » Special Offer: Establish a secure stream of income during your retirement years by following the Retiree Income Portfolio with this free 30 day trial
Find the right mix of model portfolios today at PortfolioChannel.com
This Article's Word Cloud:
AMEX
According
Channel
ETFs
Energy
Friday
Oversold
Phillips
Portfolio
Relative
Sector
Select
about
analysis
below
bullish
comparison
could
currently
hands
heavy
income
look
momentum
opportunities
other
oversold
point
process
range
reading
recent
retirement
scale
secure
share
shares
slideshow
stocks
territory
that
trading
week
what
which
with
year
years
your
zero
|
Now Playing:
Learn About The RSI
Start slideshow: