Pioneer Natural Resources Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Tuesday for Pioneer Natural Resources
(Updated on Apr 23, 2024)
The Pioneer Natural Resources stock price gained 0.559% on the last trading day (Tuesday, 23rd Apr 2024), rising from $273.51 to $275.04. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.77% from a day low at $270.77 to a day high of $275.57. The price has risen in 6 of the last 10 days and is up by 1.01% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 102 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $460.04 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 24.69% during the next 3 months and, with a 90% probability hold a price between $332.16 and $353.46 at the end of this 3-month period.
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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 $270.13 and $260.16. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -0.102%. Further fall is indicated until a new bottom pivot has been found. 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.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.80 (1.77%) between high and low. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $264.53 (-3.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (PXD) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Pioneer Natural Resources Company to open at $273.79, and during the day (based on 14 day Average True Range), to move between $270.49 and $279.59, which gives a possible trading interval of +/-$4.55 (+/-1.66%) 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 3.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $275.32 (0.10%) than the support at $249.96 (9.12%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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: 4.444 Buy Candidate Unchanged
Predicted Opening Price for Pioneer Natural Resources Company of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $273.79 ( 0.454%) | $275.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PXD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 278.59 | 1.29 % | |
| R2 | 276.75 | 0.624 % | ||
| R1 | 275.62 | 0.212 % | ||
| Current price: | 275.04 | |||
| Support | S1 | 271.96 | -1.12 % | |
| S2 | 270.83 | -1.53 % | ||
| S3 | 269.00 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 275.32 | 0.102 % | ||
| Current price | 275.04 | |||
| Support | S1 | 249.96 | -9.12% | |
| S2 | 233.74 | -15.02% | ||
| S3 | 231.55 | -15.81% |
PXD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Mar 01, 2024 | Mar 22, 2024 | $2.56 | 1.00% |
| 2 | Nov 02, 2023 | Nov 29, 2023 | Dec 22, 2023 | $3.20 | 1.40% |
| 3 | Aug 01, 2023 | Sep 05, 2023 | Sep 21, 2023 | $1.84 | 0.83% |
| 4 | Apr 26, 2023 | May 31, 2023 | Jun 21, 2023 | $3.34 | 1.64% |
| 5 | Feb 22, 2023 | Mar 03, 2023 | Mar 17, 2023 | $5.58 | 3.07% |
FAQ
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