Stock Analysis: Today’s Unmissable Intraday Trade Idea for July 2024 – Phillips (PSX).
Trade Details: Tuesday, 30 July 2024, Phillips (PSX) stock price closed at $147.17.
Phillips (PSX) stock trading in a bullish trend, consistently forming higher highs and higher lows on the chart. According to the monthly time frame, the RSI indicates the price is overbought, suggesting a potential drop. However, the daily chart shows the price testing an internal demand zone and attempting to retrace upward. We could plan a short-term buy trade targeting the upside resistance zone on the chart.
Note: If the price breaks and closes below the $134 level, this buy setup is invalid.
Buy Intraday Trade Idea:-
Entry Range: $146-$143
Stop Loss: $138
Target: $155
Note: Always remember: risk no more than 1% per trade.” Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
To get regular updates on stocks, please join our Discord community.
Our Articles on Long-Term Stock Analysis My best read on trading is this Book