Pioneer Natural Resources Stock Forecast

Green day on Wednesday for Pioneer Natural Resources stock after gaining 0.105%
(Updated on Apr 24, 2024)

PXD Signals & Forecast

The Pioneer Natural Resources stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $271.08 and $261.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.09%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Pioneer Natural Resources stock

On the downside, the stock finds support just below today's level from accumulated volume at $249.96 and $233.74. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pioneer Natural Resources finds support just below today's level at $249.96. If this is broken, then the next support from accumulated volume will be at $233.74 and $231.55.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.32 between high and low, or 1.59%. For the last week the stock has had daily average volatility of 1.83%.

Since the Pioneer Natural Resources has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $263.36 (-4.41%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (PXD) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Pioneer Natural Resources Company to open at $274.45, and during the day (based on 14 day Average True Range), to move between $270.99 and $280.05, which gives a possible trading interval of +/-$4.53 (+/-1.65%) up or down from last closing price. If Pioneer Natural Resources Company takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $249.96, some $25.56 (9.28%) from the current price of $275.52, our system finds the risk reward attractive.

Is Pioneer Natural Resources Company stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Pioneer Natural Resources stock to perform well in the short-term.

Current score: 3.945 Buy Candidate Unchanged

Predicted Opening Price for Pioneer Natural Resources Company of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.