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Uptrend ExhaustionArchive - 3/15/2024 - Sign In to see current Signals. |
Pioneer Natural Resources Co. (PXD) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a fifth consecutive positive week for the Pioneer Natural Resources Co. (PXD). During the week, the PXD gained 6.44 points, or 2.64%, and closed at 249.96 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was -22% 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 257.76 on October 19, 2023. PXD gained -80.49 points, or -45.41%, in 31 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 220.91 and resistance is at 273.29. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend. Medium-term trend: [See PXD medium-term trend chart] A medium-term downtrend had started on October 19, 2023 at 257.76 and reached 214.23 on January 22, 2024. PXD lost 43.53 points, or 16.89%, in 13 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (206.85) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PXD may retest the broken resistance line. It is considered to be a support line now. 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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. The distance between MACD and the signal line is low, but getting bigger. 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 January 22, 2024 at 214.23 and reached 252.40 on March 15, 2024. PXD gained -38.17 points, or -17.82%, in 53 days. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (240.86) 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 Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily 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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