The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

Archive
- 3/15/2024 -
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Pioneer Natural Resources Co. (PXD) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal line
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.90
Overbought
Williams' Percentage Range (W%R) 12.80
Overbought
Lane's Stochastic (%D-Slow) 90.31
Strong Overbought
Greed/Fear Indicator (GFI) 86.47
Overbought
Moving Average Converg./Diverg. (MACD) 3.82
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.98
Williams' Percentage Range (W%R) 7.90
Strong Overbought
Lane's Stochastic (%D-Slow) 87.07
Overbought
Greed/Fear Indicator (GFI) 79.08
Moving Average Converg./Diverg. (MACD) 1.06
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 273.29
Upper Bollinger Band 251.43
Daily Stochastic Crossing 250.78
Price 249.96
Weekly Stochastic Crossing 249.43
Parabolic System 245.40
Weekly Trendline Support 240.86
20 Day Moving Average 238.35
Weekly Trendline Resistance 233.21
50 Day Moving Average 230.63
Lower Bollinger Band 227.35
Quarterly Trendline Support 220.91
Monthly Trendline Resistance 213.57
Monthly Trendline Support 206.85
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Exploration & Production 57
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 224.20
Low Date 02/05/2024
High 252.40
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 233.21
Support 240.86
Low 214.23
Low Date 01/22/2024
High 252.40
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 213.57
Support 206.85
High 257.76
High Date 10/19/2023
Low 214.23
Low Date 01/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 273.29
Support 220.91
Low 177.27
Low Date 03/16/2023
High 257.76
High Date 10/19/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 48.62
Low Date 03/18/2020
High 288.46
High Date 05/31/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.