Pioneer Natural's most recent trend suggests a bullish bias. One trading opportunity on Pioneer Natural is a Bull Put Spread using a strike $245.00 short put and a strike $235.00 long put offers a potential 17.65% return on risk over the next 36 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $245.00 by expiration. The full premium credit of $1.50 would be kept by the premium seller. The risk of $8.50 would be incurred if the stock dropped below the $235.00 long put strike price.
The 5-day moving average is moving up which suggests that the short-term momentum for Pioneer Natural is bullish and the probability of a rise in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Pioneer Natural is bullish.
The RSI indicator is at 48.26 level which suggests that the stock is neither overbought nor oversold at this time.
To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here
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Updating Our Bullish Strategy for Pioneer Natural Resources
Thu, 07 Apr 2022 16:32:00 +0000
Pioneer Natural Resources is an independent oil and gas exploration and production company and like many stocks in the energy sector, its charts are pointed higher. In this daily bar chart of PXD, below, we can see that prices have rallied the past 12 months. The On-Balance-Volume (OBV) line shows strength from early September with buyers of PXD being more aggressive than sellers with heavier volume being transacted on days when PXD has closed higher.
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