Phillips 66 : Continuation of the bullish trend
Entry price | Target | Stop-loss | Potential |
---|
US$93.49 |
US$100 |
US$93.5 |
+6.96% |
---|
With an increase of 30% since the beginning of the year, the share Phillips 66, American specialist of manufacturing and logistics in the field of petrochemicals, remains well oriented and is going toward its highest level.
The group's fundamentals reveals a very strong folder. The company operates in attractive valuation levels with an EV/sales ratio equal to 0.53. In addition, operating margins remain attractive in 2015 estimated at more than 6%. Finally, the Thomson Reuters consensus remains "buyer" on the stock with a price average of dollars 96.9.
From a technical point of view, in weekly data, the share operates in a positive trend since late 2014. In daily data, share experiencing a marked acceleration upward for several weeks, well supported by its 20 days moving average. Prices initially on stubborn resistance to USD 93.7 also corresponding to an upward sloping.
Based on technical and fundamental elements, a buy signal will be give above the USD 93.7 resistance. The upward movement is expected to quickly reach the upper limit of the upward sloping at the USD 96 threhold. The crossing of the latter would open the way towards the psychological level of USD 100. A stop loss will be positioned at the USD 93 level.
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