PSX looking for a move to the upsidePSX daily in a falling wedge w/ reversal hammer candle. Watching for a pop.
PSX
Buy or Sell MPC Earnings Rally? I'll let the chart speak for itself.
The chart was drawn prior to today's open.
PSX strong long setup on H1NYSE:PSX
A powerful bounce from the trend line with low volume test means no selling in the stock.
The push through of the swing high is a very high probability.
I recommend to exit 80% of trade size at the 1st price target as shown on the chart 88.24$
The remaining size of the trade will ride the trend till i give exit signal.
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.
