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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Pioneer Natural Resources Co. (PXD) Technical Analysis
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| Summary:
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| | It was a eighth consecutive positive week for the Pioneer Natural Resources Co. (PXD). During the week, the PXD gained 10.28 points, or 3.92%, and closed at 272.78 on Friday, April 5, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was -32% below average.
PXD is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See PXD long-term trend chart]
A long-term uptrend had started on March 16, 2023 at 177.27 and reached 274.67 on April 5, 2024. PXD gained -97.40 points, or -54.94%, in 55 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (275.85). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See PXD medium-term trend chart]
A medium-term uptrend had started on January 22, 2024 at 214.23 and reached 274.67 on April 5, 2024. PXD gained -60.44 points, or -28.21%, in 10 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (250.19) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See PXD weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 23, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See PXD short-term trend chart]
A short-term uptrend had started on February 5, 2024 at 224.20 and reached 274.67 on April 5, 2024. PXD gained -50.47 points, or -22.51%, in 60 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (244.19) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
 Daily Technical Indicators: [See PXD daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Relative Strength Index and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Relative Strength Index and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up.
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