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Archive
- 5/26/2023 -
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Diamondbac (FANG) |
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a second consecutive positive week for the Diamondbac (FANG). During the week, the FANG climbed 0.77 points, or 0.59%, and closed at 130.99 on Friday, May 26, 2023. Weekly volume was -42% below average.
FANG is a member of Energy Sector. Energy is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See FANG long-term trend chart]
A long-term uptrend had started on August 19, 2021 at 65.93 and reached 168.95 on November 15, 2022. FANG gained -103.02 points, or -156.26%, in 64 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (140.32) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
 Medium-term trend: [See FANG medium-term trend chart]
A medium-term downtrend had started on April 14, 2023 at 148.47 and reached 124.83 on May 16, 2023. FANG lost 23.64 points, or 15.92%, in 4 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 118.22 and resistance is at 133.94. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FANG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 9, 2022. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See FANG short-term trend chart]
A short-term uptrend had started on May 16, 2023 at 124.83 and reached 135.10 on May 24, 2023. FANG gained -10.27 points, or -8.23%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See FANG daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Energy |
1 |
| Industry |
Oil & Gas Exploration & Production |
58 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
135.10 |
| High Date |
05/24/2023 |
| Low |
129.45 |
| Low Date |
05/25/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
124.83 |
| Low Date |
05/16/2023 |
| High |
135.10 |
| High Date |
05/24/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Descending Wedge |
| Status |
Valid |
| Resistance |
133.94 |
| Support |
118.22 |
| High |
148.47 |
| High Date |
04/14/2023 |
| Low |
124.83 |
| Low Date |
05/16/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
168.95 |
| High Date |
11/15/2022 |
| Low |
119.01 |
| Low Date |
03/16/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
176.93 |
| Support |
140.32 |
| Low |
65.93 |
| Low Date |
08/19/2021 |
| High |
168.95 |
| High Date |
11/15/2022 |
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