Pioneer Natural Resources Company is an independent production and exploration company from the USA. Their main business areas are the research, development and production of oil and gas commodities. The group was founded in 1997 and has its headquarters in Irving, Texas.
In the following analysis, we will examine the company stock from a technical perspective.
The stock has been in an intact downward trend since the beginning of the year; the SMA 200 was also sustainably undercut. The last strong downward movement from August, encouraged by a gap after the company’s quarterly figures, was corrected to over 50%, and it is worth keeping an eye out for signals.
In the subordinate trend size, the first clear signal could soon form in the short direction (blue arrows in the hourly chart). The entry can take place directly at the point 2 or alternatively from out of the correction, with a stop loss above the last point 3. The target zone would be the area around 128 USD (green zone).
If the value clearly and sustainably rises above 154.50 USD (red line), the short scenario should be abandoned.
Before trading, one should take news in the environment and from the company into account. Similarly, one should also observe the overall market.
Disclosure of possible conflicts of interest: at the time of publishing this analysis, the author is not invested in the securities or underlyings discussed.
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