Phillips 66 Partners LP stock trades under the ticker PSXP & has recently shown technical strength, making it worth considering for a short-term trade opportunity.
PSXP stock closed for trading at $30.05/share on 4/7/2021, as its MACD formed a bearish crossover.
PSXP Stock Price: $30.05
10 Day Moving-Average: $30.95
50 Day Moving-Average: $28.37
200 Day Moving-Average: $26.50
PSXP’s stock has recently slid, putting its price slightly below the 10 Day Moving-Average, but its volume has increased dramatically in the past few days.
From an options perspective, I am looking at the $30 calls & puts, keeping an eye out for the $30.50 & $28.50 levels in price.
Phillips 66 Partners LP stock also offers an 11.65% dividend yield for its common shares, which also may be appealing to longer-term oriented investors.
Overall, PSXP looks to have many advantages for short-term traders & long-term investors alike, and is worth taking a closer look at.
*** I DO NOT OWN SHARES OF PSXP STOCK ***