PSX
MPC hits top fib line. Sold.I was long at $36 handle on Tuesday. I sold at $38.70 which it is straddling right now at the top of the fib retracement. MPC is outperforming other refiners today like VLO, HFC, PSX.
There is no technical support above $38.70. Either it breaks out to $50+ or rather I am looking to buy another dip below this fib line if there is no sustained upside support for the next few sessions.
MPC bucks the mkt againYesterday MPC closed at $36.47 on a late rally exactly at its 2nd fib line for which there is previous support at that level. It's been hard for this stock to breakout past $37 with analyst price targets in the $50s. It needs momentum.
