PXD closes higher for the 6th day in a row
Pioneer Natural Resources Company (PXD) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
Moving higher for the 6th day in a row, PXD ended Monday at 191.13 gaining $2.81 (1.49%). Today's closing price of 191.13 marks the highest close since March 7, 2017. Trading up to $2.88 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Friday's high at 188.85, the share confirms its breakout through the prior session's high having traded $3.04 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (PXD as at Apr 16, 2018):
Monday's trading range was $4.77 (2.51%), that's slightly below last trading month's daily average range of $5.12. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being way above average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
2,017's high at 199.55 is within reach and we might see further upside momentum should the stock manage to break out beyond.