Trading (FANG) With Integrated Risk Controls

August 11, 2024, 18:12 pm ET, BY Joseph H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FANG

• Buy FANG slightly over 188.77 target 205.14 stop loss @ 188.22 Details

The technical summary data tells us to buy FANG near 188.77 with an upside target of 205.14. This data also tells us to set a stop loss @ 188.22 to protect against excessive loss in case the stock begins to move against the trade. 188.77 is the first level of support below 199.77 , and by rule, any test of support is a buy signal. In this case, support 188.77 would be being tested, so a buy signal would exist.

• Short FANG slightly under 205.14, target 188.77, stop loss @ 205.73 Details

The technical summary data is suggesting a short of FANG as it gets near 205.14 with a downside target of 188.77. We should have a stop loss in place at 205.73though. 205.14 is the first level of resistance above 199.77, and by rule, any test of resistance is a short signal. In this case, if resistance 205.14 is being tested, so a short signal would exist.

Swing Trading Plans for FANG

• Buy FANG slightly over 205.14, target 221.12, Stop Loss @ 204.55 Details

If 205.14 begins to break higher, the technical summary data tells us to buy FANG just slightly over 205.14, with an upside target of 221.12. The data also tells us to set a stop loss @ 204.55 in case the stock turns against the trade. 205.14 is the first level of resistance above 199.77, and by rule, any break above resistance is a buy signal. In this case, 205.14, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FANG slightly near 205.14, target 197.96, Stop Loss @ 205.73. Details

The technical summary data is suggesting a short of FANG if it tests 205.14 with a downside target of 197.96. We should have a stop loss in place at 205.73 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 205.14, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for FANG

• Buy FANG slightly over 203.53, target 205.14, Stop Loss @ 203.06 Details

If 203.53 begins to break higher, the technical summary data tells us to buy FANG just slightly over 203.53, with an upside target of 205.14. The data also tells us to set a stop loss @ 203.06 in case the stock turns against the trade. 203.53 is the first level of resistance above 199.77, and by rule, any break above resistance is a buy signal. In this case, 203.53, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FANG slightly near 203.53, target 199.66, Stop Loss @ 204. Details

The technical summary data is suggesting a short of FANG if it tests 203.53 with a downside target of 199.66. We should have a stop loss in place at 204 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 203.53, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Diamondback Energy Inc. (FANG) available here: FANG.

FANG Ratings for August 11:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	188.77
P2	199.66	186.7	205.14
P3	203.53	197.96	221.12

AI Generated Signals for FANG

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