Learn to Evaluate (FANG) using the Charts

October 21, 2024, 13:46 pm ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for FANG

• Buy FANG near 182.42 target 202.73 stop loss @ 181.89 Details

The technical summary data tells us to buy FANG near 182.42 with an upside target of 202.73. This data also tells us to set a stop loss @ 181.89 to protect against excessive loss in case the stock begins to move against the trade. 182.42 is the first level of support below 183.74 , and by rule, any test of support is a buy signal. In this case, support 182.42 would be being tested, so a buy signal would exist.

• Short FANG slightly under 202.73, target 182.42, stop loss @ 203.32 Details

The technical summary data is suggesting a short of FANG as it gets near 202.73 with a downside target of 182.42. We should have a stop loss in place at 203.32though. 202.73 is the first level of resistance above 183.74, and by rule, any test of resistance is a short signal. In this case, if resistance 202.73 is being tested, so a short signal would exist.

Swing Trading Plans for FANG

• Buy FANG slightly over 187.83, target 202.73, Stop Loss @ 187.29 Details

If 187.83 begins to break higher, the technical summary data tells us to buy FANG just slightly over 187.83, with an upside target of 202.73. The data also tells us to set a stop loss @ 187.29 in case the stock turns against the trade. 187.83 is the first level of resistance above 183.74, and by rule, any break above resistance is a buy signal. In this case, 187.83, 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 187.83, target 182.42, Stop Loss @ 188.37. Details

The technical summary data is suggesting a short of FANG if it tests 187.83 with a downside target of 182.42. We should have a stop loss in place at 188.37 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, 187.83, 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 187.83, target 202.73, Stop Loss @ 187.39 Details

If 187.83 begins to break higher, the technical summary data tells us to buy FANG just slightly over 187.83, with an upside target of 202.73. The data also tells us to set a stop loss @ 187.39 in case the stock turns against the trade. 187.83 is the first level of resistance above 183.74, and by rule, any break above resistance is a buy signal. In this case, 187.83, 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 187.83, target 183.5, Stop Loss @ 188.27. Details

The technical summary data is suggesting a short of FANG if it tests 187.83 with a downside target of 183.5. We should have a stop loss in place at 188.27 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, 187.83, 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 October 21:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	182.42
P2	177.37	178.19	202.73
P3	183.5	187.83	222.07

AI Generated Signals for FANG

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Diamondback Energy Inc. (NASDAQ: FANG) report below can help you understand how to do this. The trading plans for FANG, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.