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Advanced TA SearchArchive
- 5/3/2024 -
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Diamondbac (FANG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Diamondbac (FANG). During the week, the FANG dropped -6.26 points, or -3.01%, and closed at 201.50 on Friday, May 3, 2024. Weekly volume was 14% above average.
FANG is a member of Energy Sector. Energy is the most overbought 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 211.96 on April 12, 2024. FANG gained -146.03 points, or -221.49%, in 138 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (159.09) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.
 Medium-term trend: [See FANG medium-term trend chart]
A medium-term uptrend had started on March 16, 2023 at 119.01 and reached 211.96 on April 12, 2024. FANG gained -92.95 points, or -78.10%, in 56 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (165.28) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See FANG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since February 9, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See FANG short-term trend chart]
A short-term downtrend had started on April 12, 2024 at 211.96 and reached 193.19 on May 1, 2024. FANG lost 18.77 points, or 8.86%, in 19 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 191.80 and resistance is at 207.30. 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 short-term trend.
 Daily Technical Indicators: [See FANG daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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