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Watch for Pioneer Natural to Potentially Pullback After Gaining 1.27% Yesterday

By James Quinn

Pioneer Natural (NYSE:PXD) traded in a range yesterday that spanned from a low of $201.85 to a high of $205.85. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $204.26 on volume of 444,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Pioneer Natural have traded between a low of $125.46 and a high of $205.43 and are now at $205.43, which is 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 2.2%.

SmarTrend recommended that subscribers consider buying shares of Pioneer Natural on April 12th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $182.82. Since that recommendation, shares of Pioneer Natural have risen 11.1%. We continue to monitor PXD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders pioneer natural

Ticker(s): PXD