Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>The PXD has advanced upwards showing bullish momentum.</a></li>
 <li><span>2</span> <a>Pioneer Natural Resources Company (NYSE: PXD) stock is trading in a wedge.</a></li>
</ul>
<p>The annual earnings report of Pioneer Natural Resources Company for the last two years showed that the company had a strong performance, surpassing the expectations of the analysts.</p>
<p>The company also announced its projections for the next quarter, expecting a revenue of $5.167 Billion and an EPS of $5.577. The next earnings report will be released on November 7th, 2023.</p>
<p>It is a company in the oil and gas production sector. Pioneer Natural Resources Company (NYSE: PXD) stock thrusted upwards in 2020 from $48 to $288 by June 2022.</p>
<p>Herein, at the $288 level, the PXD stock faced selling pressure and slid up to $180 by March 2023 to form support at this level. From this level, the price rose and supposedly gave a breakout, breaking out from the edge of the parallel channel.</p>
<p>However, the chart shows bullish price action and might be trying to allure investors by displaying that the stock is poised for a significant rise.&nbsp;</p>
<p>The technical tools show upward direction estimations, but the momentum in price feels low, it would be too early to bet hastily on the stock’s upward momentum.&nbsp;</p>
<p>Therefore, if the stock wishes to advance upwards, it must show bullish price action by surpassing its recent high at $257, which the stock reached a few days back.</p>
<p>Lastly, it can be said, that if buyers boost more, the PXD stock might surge strongly from the current level and surge above. The possible targets are between $260 and $280.</p>
<p>On the contrary, if PXD stock fails to hold its grip and continuously declines and breaches below $230, it may hit $212.</p>
<p>The current value of RSI is 55.72 points. The 14 SMA is above the median line at 59.72 points which indicates that the PXD stock is residing in a bullish zone.&nbsp;</p>
<p>The MACD line at 5.12 and the signal line at 4.05 are above the zero line. The MACD shows a bullish crossover, like icing on a cake, that prompts traits of bullish strength in the momentum of the PXD stock price.</p>
<p>In addition, the stock ratings for stock are rated “buy” and recommended based on 31 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for the stock by 25 analysts range between $230 to $306.</p>
<p>Currently,<a href="https://www.thecoinrepublic.com/2023/10/23/amd-stock-shed-over-8-expected-to-follow-the-bearish-macd/" target="_blank" rel="noopener noreferrer nofollow"> PXD stock</a> is trading above the 20 and 50-day exponential moving averages, which are supporting the price momentum.</p>
<p>Nevertheless, if buying volume adds up, then the price might support strong bullish momentum by making higher lows and new highs. Hence, the PXD price is expected to move upward giving a bullish outlook over the daily time frame chart.</p>
<h2 class="wp-block-heading" id="strong-will-pxd-continue-rallying-upwards-strong"><strong>Will PXD Continue Rallying Upwards?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1564" height="836" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696.png" alt="Will Pioneer Natural Resources Company Persist Above $300?" class="wp-image-178002" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696.png 1564w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696-768x411.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696-1536x821.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-696-1140x609.png 1140w" sizes="(max-width: 1564px) 100vw, 1564px">
  <figcaption class="wp-element-caption">
   Source: NYSE: PXD by TradingView
  </figcaption>
 </figure>
</div>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1563" height="835" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697.png" alt="Will Pioneer Natural Resources Company Persist Above $300?" class="wp-image-178003" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697.png 1563w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697-768x410.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697-1536x821.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-697-1140x609.png 1140w" sizes="(max-width: 1563px) 100vw, 1563px">
  <figcaption class="wp-element-caption">
   Source: NYSE: PXD by TradingView
  </figcaption>
 </figure>
</div>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>The price action shows a higher highs and lows formation in PXD stock showing signs of a more bullish outlook at the time of publishing. The technical analysis tools of the PXD stock price highlight upward signals and support bullishness. Pioneer Natural Resources Company (NYSE: PXD) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels</strong>: $230 and $212</p>
<p><strong>Resistance Levels</strong>: $260 and $280</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

Will Pioneer Natural Resources Company Persist Above $300?

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