All PR is good PRKey Stats:
Current Price: $16.21 (as of Nov. 22, 2024)
Market Cap: ~$9.5 billion
Dividend Yield: 4.2%
Next Earnings Date: Early Feb. 2025
Price Target Consensus: $18.93 (+16.8% upside)
Technical Reasons for Upside:
Breakout Alert: PR broke out of a tight consolidation between $15.50 and $16.10, supported by above-average volume. The next resistance lies near $18.00.
Momentum Indicators: RSI is trending toward overbought territory, a bullish sign in this context, while MACD shows positive divergence.
Energy Sector Tailwind: The Energy ETF (XLE) is rebounding off recent lows, boosting the broader sector sentiment. PR's tight correlation with crude oil prices also positions it to benefit from any seasonal rally.
Fundamental Reasons for Upside:
Earnings Strength: Q3 2024 earnings showed a 28% YoY revenue increase, driven by higher production efficiency and stable oil prices. Management increased FY2024 guidance, signaling confidence.
Cheap Valuation: PR trades at an EV/EBITDA multiple of 4.8x, below the sector average of 5.5x, making it an attractive value play in the Permian Basin.
Dividend & Buybacks: The company’s 4.2% dividend yield and ongoing share buybacks provide income support and reduce supply-side pressure on the stock.
Potential Paths to Profit:
Shares: The easiest path. Buy and hold until February for a target of $18.24.
Options: Consider February $16 calls for leverage. With implied volatility around 32%, they’re reasonably priced.
Spread it Out: Use a $16/$18 bull call spread to reduce upfront costs while still capitalizing on upside.
Disclaimer: We are not a brokerage or investment firm. We do not offer financial advice or investment advice and/or signals. This is not certified financial education. We offer access to the daily thought process of an individual and his experiences. We do not offer refunds. All sales are final.
0HVD trade ideas
PR: Ascending Triangle, Confirmed (55.80%)(17/1000)(17/1000)
Ascending Triangle for PR.
Confirmed. Possible 55.80% gains.
Pros:
1- Bullish Ascending triangle, Confirmed
2- Descending volume during formation
3- PPS above 50MA and 200MA
4- R/R ratio above 5
5- 250RSI above 50 and ascending
6- 50MA above 200MA
7- 50MA and 200MA ascending.
8- RS above 0 and ascending
9- Golden Cross circled in blue
Cons:
1- ATR flat, less volatile
2- No high volume at break
Target price is 18.62$.
Again, stay humble, have fun, make money!
MAAX!
PR LongVery similiar to ET, like almost exactly the same. Didn't do much outside research but looking purely techinical analysis it looks solid. Going to play a break above 9.40 for entry. But for my reasoning:
holding golden zone on fib
RSI peeling above 50 on 4hr/daily
breakout of consolidation phase
showed strong support on weekly with a doji with more volume
close above 50 EMA on 4hr
Looking for strong ignition candle(high volume) to break above this level
Already seeing increase of volume on 1hr
Also seeing close above 200 EMA on 1hr
The close above on daily would confirm hold above EMA's and BT cloud flip
lots of bullish sweep calls on flow order
if we push above we have potential gap fill at 10.4
Mind you I'm just getting back to swings and I'm mostly a day trader so I have no idea how these will go it's just what I think.