Permian Resources (PR) shows a bullish turn

We received a question on Permian Resources (PR) within the Energy sector.

PR shows a bullish turn in trend above its rising 200-week moving average (WMA) near 12.51 on a shift to rising 13-, 26-, and 40-WMAs from late 2025 into early 2026. This preceded last week's breakout above 15.00, which confirms a an early 2025 into early 2026 ascending triangle bottom that favors upside back to and potentially beyond that early 2024 peak at 18.28 toward the pattern count at 20. The 2016-2018 peaks from 20.97 up to 23.12 offer additional resistance.

The stock is testing a tactical resistance at the January 2025 and November 2024 peaks at 16.03-16.33. While we think, PR pushes beyond this resistance, stalling at this zone and holding the 15.00-13.40 range (breakout level, rising 13, -26-, and 40-WMAs, and the last higher low prior to the breakout) would suggest that PR is building a bigger base.

PR has struggled relative to the S&P 500 since topping out in late 2023-early 2024 but has shown a bullish turn and relative leadership vs. the broader market since late October 2025.

Chart 1: Permian Resources (PR) (top) and relative to the S&P 500 (bottom): Weekly chart

A head and shoulders bottom for weekly MACD, completed on a breakout above the zero line, confirms the bullish absolute price pattern highlighted above.

Chart 2: Permian Resources (PR) (top) and MACD (bottom): Weekly chart

Weekly volume indicators are strong and suggest underlying accumulation (up or buying volume) for PR. The potential is for upside breakouts from early 2024 into early 2026 bullish consolidation patterns that would mean new highs for both the volume advance decline and on-balance-volume indicators. Remember: Volume leads price, and new highs for these indicators would support the case for eventual new highs on PR.

Chart 3: Permian Resources (PR) (top), volume advance decline (center), and on-balance-volume (bottom): Weekly chart