When you visit our site, we use services provided by Tempest, a product of Say Media, Inc., for content delivery and ad selection, including personalised digital ads. Say Media and its partners use technology such as cookies to customise your site experience, analyse website traffic, deliver content, and measure the effectiveness of advertisements.
By continuing to use this site, you consent to the use of cookies. To learn more about cookies and how to disable them, view our Cookie Policy.
By clicking I Agree on this screen you agree that Say Media and its partners may process your personal data for the purposes of information storage and access; personalisation; ad selection, delivery, and reporting; content selection, delivery and reporting; and measurement. For more information please view our Privacy Policy.
Pioneer Natural Resources (PXD) Stock Is the ‘Chart of the Day’
TheStreet’s Chris Versace and Bob Lang said that if crude prices rise, Pioneer (PXD) stock will post higher prices.
By Rachel Aldrich
,
NEW YORK (TheStreet) -- Shares of Pioneer Natural Resources
(PXD) - Get Reportare climbing 2.57% to $161.54 this afternoon following the company's 2016 second-quarter financial report released earlier this week.
On Wednesday after the market close, the Irving, TX-based independent oil and gas company company reported an adjusted loss of 22 cents per share, which was narrower than an expected 34-cent loss.
However, revenue for the period was $786 million, falling short of estimates of $793.6 million.
TheStreet'sChris Versace and Bob Lang of Trifecta Stocks have identified Pioneer Natural Resources as the "Chart of the Day." Here is what Versace and Lang had to say about the stock:
Pioneer Natural Resources had pulled back modestly from its recent highs in late April, but it was only modest pullback, and the downtrend channel was well defined.
On Thursday, however, Pioneer was lifted through the upper end of the channel -- and on higher volume, which is a good start to a new uptrend. The Moving Average Convergence Divergence is now on a buy signal, and has confirmed, but we would like to see Relative Strength improve. If crude turns around and goes up, Pioneer will be a place to go for higher prices.