This Foreboding Sign Looms Over Phillips 66's Chart

If history is any guide, there may be trouble ahead for shares of Phillips 66 PSX. A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

What To Know: Many traders use moving average crossover systems to make their decisions.

When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.

Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.

The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.

That just happened with Phillips 66, which is trading around $95.98 at publication time.

Remember: Seasoned investors don't blindly trade Death Crosses.

  • Massive Demand & Disruptive Potential – Boxabl has received interest for over 190,000 homes, positioning itself as a major disruptor in the housing market.
  • Revolutionary Manufacturing Approach – Inspired by Henry Ford’s assembly line, Boxabl’s foldable tiny homes are designed for high-efficiency production, making homeownership more accessible.
  • Affordable Investment Opportunity – With homes priced at $60,000, Boxabl is raising $1 billion to scale production, offering investors a chance to own a stake in its growth.
Share Price: $0.80
Min. Investment: $1,000
Valuation: $3.5B

Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.

For seasoned investors, this is just a sign that it might be time to start considering possible short positions.

With that in mind, take a look at Phillips 66's past and upcoming earnings expectations:

Quarter Q1 2023 Q4 2022 Q3 2022 Q2 2022
EPS Estimate 3.56 4.35 4.91 5.78
EPS Actual 4.21 4 6.46 6.77
Revenue Estimate 34.23B 39.12B 39.47B 43.21B
Revenue Actual 35.09B 40.91B 48.76B 49.31B

Also consider this overview of Phillips 66 analyst ratings:

Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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PSXPhillips 66
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Momentum
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72.75
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Value
65.75
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