Pioneer Natural Resources - PXD - close 63. change -2.71 stop 8.90
Pioneer Natural Resources Company (Pioneer) is an independent oil and gas exploration and production company with operations in the United States, South Africa and Tunisia. The Company explores, develops and produces oil and gas reserves. The Company's asset base is anchored by the Spraberry oil field located in West Texas, the Raton gas field located in southern Colorado, the Hugoton gas field located in southwest Kansas and the West Panhandle gas field located in the Texas Panhandle. Pioneer has exploration and development opportunities and/or oil and gas production activities in the Eagle Ford and Edwards Trend areas of South Texas, the Barnett Shale area of North Texas and Alaska, and internationally in South Africa and Tunisia. The Companyâ€™s production operations are principally located domestically in Texas, Kansas, Colorado and Alaska, and internationally in South Africa and Tunisia.
Target(s): 65.00, 66.00
Key Support/Resistance Areas: 60.00, 59.00
Time Frame: 1 to 2 weeks
Why We Like It:
PXD has been a strong relative performer as the overall market has been weak. It is also in the natural gas industry and institutional money seems to be rotating into the sector. PXD is above its 20-day and 50-day SMA's, which are just below $62.00 and $61.60, respectively. I expect PXD to trade down near its 50-day SMA which I would like to use as a trigger to enter long positions. Our initial stop will be at $58.50.
Suggested Position: Long PXD if if trades down near $61.60
Entry on June xx
Earnings Date (unconfirmed)
Average Daily Volume: 2.6 million
Listed on 6/5/10
Direct TV - DTV - close 37.95 change -1.77 stop 35.70
DIRECTV, incorporated in 2009, is a provider of digital television entertainment in the United States and Latin America. The Company operates two direct-to-home (DTH) operating segments: DIRECTV U.S. and DIRECTV Latin America. DIRECTV Holdings LLC and its subsidiaries (DIRECTV U.S.) is the provider of DTH digital television services and the second largest provider in the multi-channel video programming distribution (MVPD). DIRECTV Latin America (DTVLA) is a provider of DTH digital television services throughout Latin America. DTVLA is comprised of: PanAmericana, which provides services in Venezuela, Argentina, Chile, Colombia, Puerto Rico and certain other countries in the region through the wholly owned subsidiary, DIRECTV Latin America, LLC (DLA LLC); the 74% owned subsidiary, Sky Brasil Servicos Ltda. (Sky Brazil); and the 41% equity method investment in Innova, S. de R.L. de C.V., (Sky Mexico).
Target(s): 39.50, 41.50
Key Support/Resistance Areas: 37.00, 36.30
Time Frame: Several weeks
Why We Like It:
DTV is a relative strength play that recently broke out of a $37.00 resistance area that should now act as support. The stock is holding an upward trend line from February which is right on its rising 50-day moving average, currently at $36.23. This should offer solid support and gives us a good reference point to place a protective stop at $35.70. If DTV trades down to near the broken resistance level near $37.00 I suggest readers initiate long positions.
Suggested Position: Long DTV stock if it trades down near $37.00
Suggested Position: Buy July $37..00 CALL, current ask $2.26, estimated ask at entry $1.80
Entry on June xx
Earnings Date 8/10/10 (unconfirmed)
Average Daily Volume: 12.3 million
Listed on 6/2/10