Trend Tracker for Diamondback Energy Inc. $FANG

December 06, 2023, 22:00 pm ET, BY Rick W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FANG

• Buy FANG slightly over 143.04 target 154.71 stop loss @ 142.63 Details

The technical summary data tells us to buy FANG near 143.04 with an upside target of 154.71. This data also tells us to set a stop loss @ 142.63 to protect against excessive loss in case the stock begins to move against the trade. 143.04 is the first level of support below 146.48 , and by rule, any test of support is a buy signal. In this case, support 143.04 would be being tested, so a buy signal would exist.

• Short FANG slightly under 154.71, target 143.04, stop loss @ 155.16 Details

The technical summary data is suggesting a short of FANG as it gets near 154.71 with a downside target of 143.04. We should have a stop loss in place at 155.16though. 154.71 is the first level of resistance above 146.48, and by rule, any test of resistance is a short signal. In this case, if resistance 154.71 is being tested, so a short signal would exist.

Swing Trading Plans for FANG

• Buy FANG slightly over 148.46, target 152.95, Stop Loss @ 148.03 Details

If 148.46 begins to break higher, the technical summary data tells us to buy FANG just slightly over 148.46, with an upside target of 152.95. The data also tells us to set a stop loss @ 148.03 in case the stock turns against the trade. 148.46 is the first level of resistance above 146.48, and by rule, any break above resistance is a buy signal. In this case, 148.46, 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 148.46, target 143.04, Stop Loss @ 148.89. Details

The technical summary data is suggesting a short of FANG if it tests 148.46 with a downside target of 143.04. We should have a stop loss in place at 148.89 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, 148.46, 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 148.46, target 149.59, Stop Loss @ 148.11 Details

If 148.46 begins to break higher, the technical summary data tells us to buy FANG just slightly over 148.46, with an upside target of 149.59. The data also tells us to set a stop loss @ 148.11 in case the stock turns against the trade. 148.46 is the first level of resistance above 146.48, and by rule, any break above resistance is a buy signal. In this case, 148.46, 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 148.46, target 146.07, Stop Loss @ 148.81. Details

The technical summary data is suggesting a short of FANG if it tests 148.46 with a downside target of 146.07. We should have a stop loss in place at 148.81 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, 148.46, 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 December 06:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	143.04
P2	146.07	148.46	154.71
P3	149.59	152.95	166.49

AI Generated Signals for FANG

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The data for Diamondback Energy Inc. (NASDAQ: FANG) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for FANG change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if FANG is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for FANG too.  All of these are offered below the Summary Table.