Watch $80 on this oil refinery — Phillips 66 (PSX) (April 18, 2015)
I want to bring you a quick trading note on Phillips 66 (NYSE:PSX ) in this “Chart of the Day”. Eighty bucks is really the line of demarcation; I’m setting an alert, members you’ll get an email. Those of you who aren’t members can do this too you just have to do it on your own software. I’m setting an alert where if the stock starts printing $80.00 you’re going to get an email with just this portion of the video covering Phillips 66 (NYSE:PSX ), so you can look at what I’m saying about it and if it makes sense to you then you can take action on it.
I’m looking at this and a lot of these other refiners aren’t looking that great; Phillips 66 (NYSE:PSX ) is just right up close to $80.00. They report earnings on the 30th of April, which is just about two weeks. The 30th is Thursday, not next Thursday but the following one; the reason I’m pointing that out is I really kind of doubt that the stock is going to stay under $80.00 between now and when they report earnings.
What I would just suggest is, I don’t know that I would want to just reflectively buy it right here, you can, but if the stock starts moving above $80.00 then it’s likely pushing on an earnings run going in to the end of the month and you can probably make some money on this in the short run. By the way, if they happen to report disappointing earnings and the stock sells off I think you can buy this stock, because this is, in my view, clearly a big low here, so any higher low is your buying opportunity.
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