Are Investors Compelled by Pioneer Natural Resources Company ($NYSE:PXD)’s Story?

When applying indicators for technical analysis, traders and investors might want to examine the ATR or Average True Range. The current 14-day ATR for Pioneer Natural Resources Company (NYSE:PXD) is currently sitting at 4.3. The ATR basically measures the volatility of a stock on a day-to-day basis. The average true range is typically based on 14 periods and may be calculated daily, weekly, monthly, or intraday. The ATR is not considered a directional indicator, but it may reflect the strength of a particular move.

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Checking in on some other technical levels, the 14-day RSI is currently at 42.33, the 7-day stands at 36.54, and the 3-day is sitting at 26.7. The RSI, or Relative Strength Index, is a commonly used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued.

Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX. The ADX was introduced by J. Welles Wilder in the late 1970’s and it has stood the test of time. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. At the time of writing, the 14-day ADX for Pioneer Natural Resources Company (NYSE:PXD) is noted at 12.7. Many technical analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

The Williams Percent Range or Williams %R is another technical indicator worth taking a look at. Pioneer Natural Resources Company (NYSE:PXD) currently has a 14 day Williams %R of -69.71. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.

Pioneer Natural Resources Company (NYSE:PXD) currently has a 14-day Commodity Channel Index (CCI) of -172.54. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

Pioneer Natural Resources Company (NYSE:PXD) shares have traded -4.83% for the week and are -6.46% for the year. At the time of writing, the stock is trading at $123.02, a change of 0.38% from the previous close. In terms of volatility, the average daily high/low percentage range stands at 3.93% for the week and 3.12% for the month.

So, most importantly, where are shares headed from here? In order to get a sense of Wall Street sentiment, we can look to brokerage analyst estimates. On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. Pioneer Natural Resources Company currently has an average analyst recommendation of 1.8 according to analysts. This is the average number based on the total brokerage firms taken into consideration by Beta Systems Research. The same analysts have a future one-year price target of $178.74 on the shares.

In addition to sell-side research, we can also take a look at some technical indicators. The stock is currently -3.92% away from its 50-day simple moving average and -12.49% away from the 200 day average. Based on a recent trade, the shares are -30.97% away from the 52-week high and 7.17% from the 52-week low.

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