In our May 25 review of Pioneer Natural Resources (PXD) we wrote that "Traders who went long PXD back in late December should continue to hold those profitable positions. Raise stops to $241 from $221. Our new price targets are the $331 to $354 area followed by $375." Piper Sandler raised their price target on PXD Tuesday to $346 from $311.
Traders should have stopped out in June as PXD corrected lower but let's see what the charts are telling us today. 
In this daily bar chart of PXD, below, we can see that prices have made a low in July and a slightly higher low in late September. PXD is now trading back above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line made a low in September and shows improvement with signs of increased aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line in a buy mode again.
In this weekly Japanese candlestick chart of PXD, below, we see an improving picture. Prices are in a longer-term uptrend and trade just above the rising 40-week uptrend line. I can only see small upper shadows in the recent candles. The OBV line has been steady for several months. The MACD oscillator is poised to turn higher.
In this daily Point and Figure chart of PXD, below, we can see an upside price target in the $373 area.
In this weekly Point and Figure chart of PXD, below, we can see the same $373 price objective.
Bottom line strategy: Traders who were stopped out of their PXD longs could rebuy shares at current levels or on strength above $260. Risk to $220. The $373 area is our new price target.
