Nov. 13 at 1:13 AM
$PSX: The stock closed at
$141.51, approaching the 60D high of
$142.93, indicating potential resistance. The RSI at 71.19 suggests overbought conditions, which may lead to a price pullback. The MA30 and MA50 are both below the current price, with MA30 at
$133.74 and MA50 at
$133.44, indicating a bullish trend in the short term but caution is warranted due to the high RSI.
Directional bias is neutral to slightly bearish due to overbought RSI and proximity to the 60D high.
Suggested entry: Consider entering on a pullback to
$138.00.
Stop: Place a stop-loss at
$136.00 to limit downside risk.
Targets: First target at
$144.00 (slightly above the 60D high) and a second target at
$146.00 if momentum continues.
Monitor for reversal signals as the stock approaches resistance levels.
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