DIAMONDBACK ENERGY INC (FANG) Stock Technical Analysis
NASDAQ:FANG • US25278X1090
Taking everything into account, FANG scores 8 out of 10 in our technical rating. Although FANG is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- FANG is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month FANG has a been trading in the 151.07 - 177.02 range, which is quite wide. It is currently trading near the high of this range.
- FANG has an average volume of 1992110 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that FANG is one of the better performing stocks in the market, outperforming 72% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- FANG is part of the Oil, Gas & Consumable Fuels industry. There are 206 other stocks in this industry, FANG did better than 56% of them.
Although FANG has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
133.20
5 important support areas can be observed.
- A support zone ranging from 156.36 to 158.95. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @150.39 from a trend line in the weekly time frame.
- Support @142.66 from a trend line in the daily time frame.
- Strong support @137.40 from a horizontal line in the daily time frame.
- A support zone ranging from 134.55 to 134.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for FANG is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for FANG is up. |
| ChartMill Relative Strength | 72.49 | POSITIVE | FANG has a high relative strength, it outperformed 72.49% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of FANG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FANG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of FANG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 69.48 | NEUTRAL | The RSI value for FANG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.78 | POSITIVE | The MACD value suggests FANG has a positive trend. |
| Stochastics (14,3) | 94.24 | OVERBOUGHT | The high Stochastics value suggests FANG may be overbought. |
| Average True Range in percent/ATR (20) | 2.96 | MEDIUM VOLATILITY | The ATR as a percentage value for FANG suggests some volalility. |
| Average Directional Index/ADX (14) | 31.09 | POSITIVE | The high ADX value value for FANG suggests a strong trend. |
176.01
+1.29 (+0.74%)
DIAMONDBACK ENERGY INC / FANG FAQ
What is the ChartMill technical rating of DIAMONDBACK ENERGY INC (FANG) stock?
ChartMill assigns a technical rating of 8 / 10 to FANG.
What is the current trend direction of DIAMONDBACK ENERGY INC (FANG) stock?
The current trend direction for DIAMONDBACK ENERGY INC (FANG) is Bullish.
What is the RSI signal for FANG stock?
DIAMONDBACK ENERGY INC (FANG) has an RSI value of 69.4757. This indicates that the stock is currently neutral.
Can you provide the buy/sell signal for DIAMONDBACK ENERGY INC?
The buy/sell signal for DIAMONDBACK ENERGY INC (FANG) is buy as both the short term and long term trends are positive.
What is the support and resistance level for FANG stock?
DIAMONDBACK ENERGY INC (FANG) has a support level at 158.95. Check the full technical report for our detailed analysis of FANG support and resistance levels.