For me, it just does not look like it is time to pull back fish in oil waters just yet. Not to hold for the long term in my IRA etc.
I drew one rising wedge that is in this chart. There are several others under price. There is one rising wedge in this chart that with a bottom trendline below $70. FANG broke up and out of a bearish Rising Wedge as did many...
The PEAD projected a Bullish outlook for $FANG after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 80%.
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Given bearish divergance on the weekly chart (after a quick rise upwards)... After some consolidation at current price level, I believe a price reversal will occur.
Not trading advice. And this is only based on technical analysis.
Earnings in January.
Possible stop below handle low/HL.
Price was over long entry level and pulled back below in a few weeks. Some call this a throwback verses a pull back. Throwbacks can hurt performance.
3 year and most recent high is 117.71/Long term high is 140.78.
Sector is known to be volatile. I am keeping an eye on the top and this Does need to...
Here is my take on FANG using 5 key elements for analysing charts. Strong stock in the current market environment, showing strong relative strength (RS) and breaking out of a cup base (36% depth, 14 weeks)
Another ressource/energy stock showing a cup'n handle on the WEEKLY.
Not confirmed yet. Broke through the 100$ resistance. Need to keep it there to confirm.
If confirmed:
Price target = 180$
Stay humble, have fun, make money!
Diamondback Energy (FANG) - Long this hydrocarbon producer starting Spring 2021 on anticipated inflationary pressures driving hydrocarbon energy such as oil and natural gas higher, along with legacy hydrocarbon ("fossil fuel") exploration & production companies higher. Now riding the global energy "crisis"" wave much higher yet still. Ultimate price target on the...
Guys please see $FANG Set up, ^618% pullback would be a good level if it gets there , if not watch for breakout over weekly inside bar level noted/ i will update plan, I think $GUSH can see 100$ as well I will attach chart.
I labeled other harmonics that is how i see the markets, nearly instantly.
$FANG beat on earnings and has been a big gainer on the year. I'm looking for this to hold into the day and if it does I will likely open a position near the close (I want to make sure it holds up). I like how it's currently breaking above the short down trend line and the oilers are hot right now. Ideas, not investing / trading advice.
from...
Diamondback Energy Inc. (FANG)
Pioneer Natural Resources (PXD)
Plug Power (PLUG)
Williams Companies (WMB)
REASON: The world is changing the way energy is produced, and changes in consumption patterns related to the pandemic have only accelerated the changes. Production with less carbon and no carbon is increasing, so look for companies that can gain from their...
![FANG: Diamondback Energy (FANG) - [W1] - HODLING LONG & STRONG!](https://s3.tradingview.com/8/8wAerz0I_mid.png "Diamondback Energy (FANG) - [W1] - HODLING LONG & STRONG!")
