Phillips 66 : USD 69.45 as next target
March 05, 2013 at 09:14 am
By
Entry price | Target | Stop-loss | Potential |
---|
US$65.68 |
US$0 |
US$63.3 |
-100% |
---|
The economic and financial situation of the company is still strong. Estimated EPS are regularly revised upwards. Besides, analysts polled by Thomson Reuters anticipate an average target price at USD 69.6.
Graphically,the general bullish trend of U.S stock markets and good fundamentals are important elements to explain why the share rises. The 20-days moving average is still trending upward, so it could support share up again and reach the USD 69.45 resistance.
In this context, it could be attractive for investors to take a buy order on the current price to target USD 69.45. The stop loss will be positioned at USD 63.3.
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