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Downtrend ExhaustionArchive
- 4/26/2024 -
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Pioneer Natural Resources Co. (PXD) Technical Analysis
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| Summary:
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| | It was the negative week for the Pioneer Natural Resources Co. (PXD). During the week, the PXD gave back -1.44 points, or -0.53%, and closed at 268.87 on Friday, April 26, 2024. Weekly volume was -12% 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 278.82 on April 12, 2024. PXD gained -101.55 points, or -57.29%, in 56 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 224.37 and resistance is at 278.60. 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 uptrend had started on January 22, 2024 at 214.23 and reached 278.82 on April 12, 2024. PXD gained -64.59 points, or -30.15%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (272.69) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See PXD weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly 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, Relative Strength Index 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, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 April 17, 2024 at 264.63 and reached 277.35 on April 25, 2024. PXD gained -12.72 points, or -4.81%, in 8 days. The price is now at the 66.67% retracement level.
 Daily Technical Indicators: [See PXD daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 12, 2024.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.67% on Friday. It is 50.53% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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