Difficult to make a call in this stock with mixed perspectives among Fund Managers and Analysts. The charts has also mixed signals but is predominantly Bearish with increased selling pressure. Options traders however have been buying the $180 calls in quite high volume. We will sit on the sidelines and see how this plays out before considering a position....
$PXD Pioneer Oversold at Support - continues to hold a bullish trendline that it's been riding for 12 months.
Expecting a near term bounce back to at least $190, additional if it can breakout from pennant pattern.
Note: Observation/opinion, not investment advice.
I am already long PXD and trying to work back to black. Using the volatility around earnings to try to collect some premium without choosing a direction. I sold the 165/130 strangle in December with 43 days for a 2.10 credit. The strangle is covered but will manage this as a stand alone trade. Which means closing for 25% profit target and rolling the untested...
What: Bearish pattern for $PXD
Why: Rising wedge breaks below trend line.
Fundamental: Natural resource industry is showing signs of weakness after it's rally this year likely due to the negative outlook of the OPEC decision in late November.
Profit Target: Sell target at $146 & 5/3/17
Stop Loss: 10% above current price
Pioneer Natural Resources es una compañía de exploración y producción de petróleo y gas con participaciones en propiedades de petróleo y gas ubicadas en los Estados Unidos, Argentina, Canadá, Sudáfrica y Gabón. La acción inicio una tendencia alcista el 11/02/2016 que se mantuvo hasta el 17/05/2016, entrando 121,71 $, con un stop de 109,41 y limit de 166,83, se...