DIAMONDBACK ENERGY INC (FANG)       150.96  +1.07 (+0.71%)

150.96  +1.07 (+0.71%)

US25278X1090 - Common Stock - After market: 151.01 +0.05 (+0.03%)

Technical Rating

6

Taking everything into account, FANG scores 6 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 in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so FANG slightly outperforms the market at the moment.
In the last month FANG has a been trading in the 128.08 - 152.79 range, which is quite wide. It is currently trading near the high of this range.
FANG has an average volume of 2570770 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 79% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
FANG is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 55% of 388 stocks in the same industry.

Statistics

1 Month 3 Months 6 Months 12 Months 12.26% -1.86% 17.92% 17.28% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 79.06 103.71 - 168.95
FANG Weekly chart
FANG Daily chart

Support/Resistance Analysis


117.52

168.71
5 important support areas can be observed.
  • A support zone ranging from 142.59 to 143.32. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @138.76 from a trend line in the weekly time frame.
  • Support @135.12 from a trend line in the daily time frame.
  • A support zone ranging from 129.59 to 130.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Support @118.71 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
  • Resistance @167.04 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

6

FANG has an average technical rating and the quality of the presented setup is also not ideal 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.


Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
152.80141.7611.04 (7.23%)13.84%
An entry @152.80. This is a Buy Stop order right above the 10 day high.An exit @141.76. This is a Stop Loss order right below the 10 day low.The worst case loss on the trade is limited to 11.04 points, which is 7.23%.When investing 13.84% of your capital in this trade, your total portfolio risk will be 1.00%.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
FANG Daily chart

DIAMONDBACK ENERGY INC150.96

NASDAQ:FANG (1/27/2023, 7:05:58 PM)+1.07 (+0.71%)

After market: 151.01 +0.05 (+0.03%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Energy
GICS Industry Oil, Gas & Consumable Fuels

Performance
Today 0.71% 1 Week 2.31%
2 Weeks 3.87% 1 Month 12.26%
3 Month -1.86% 6 Month 17.92%

Volatility
ATR(14) 3.76 ATR(20)% 2.72%
ATR Inc -17.06% Range Today 3.23

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
CRS 79.06 Mansfield 0.98
10 Day High 152.79 10 Day Low 141.77
20 Day High 152.79 20 Day Low 128.08
52 Week High 168.95 52 Week Low 103.71
CS1 End 143.32 CR1 Start 167.04

Volume & EV
DER(3) 2.2% DER(5) 1.12%
Volume 1.63M Volume Incr -14.17%
Vol(5) 1.67M Vol(50) 2.57M

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