I have a lot of reasons to believe that we will see the top of this range before moving down to the next level. We have bullish divergence on multiple TFs along with great volume on this latest move, and according to wyckoff accumulation schematics, this move would make sense after a spring like this.
NOT FINANCIAL ADVICE. I AM NOT QUALIFIED TO GIVE ADVICE. THIS...
Clear head and shoulders pattern over the last 3 years. Will see more downside/chop before this turns around. But should pop back as soon as Oil price rises and Corona virus jitters ease. Great fundamentals and margins within their industry as well. 1-2 month duration. Will add more to position at $60.
Trade at own risk*
For those who have been following my ideas, you know I am bullish on top energy and oil companies. Diamondback energy has a $135 target by top Wall St. firms and analysts and while that doesn't mean anything, thats a hint that big money will flow in - and surely it has. Technically speaking, it has formed a clear rising channel from a several year head and...
I shorted $FANG yesterday. Price closed below DC20 on 6th November, MA50 is below MA200. RSI, MACD are bearish.
Weekly MA50 has crossed MA200 and price closed below DC20 a few weeks ago. RSI, MACD are bearish.
TP is next major support above 55.48.
SL is monitored depending price action in the upcoming weeks. Currently I would think IF 1D candle closes above MA50...
FANG - (Nasdaq) - Short for 35%: Current Price @ 84, Price Target (PT) = 54
Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas.Oil is likely to fall this week.
Great Head and...
It was a good pattern to buy with a inverse head and shoulder forming, but hidden bearish divergence is spotted.
Lower high in price and higher high in indicator. It is a mixed bear. SHort term, it might give up some gains and continue upward.
With WTI oil > $60 a barrel, I'm sure there's computer algorithms (based off futures or derivatives or whatever) that will buy oil-based equities. I like FANG and WPX in this space. Hopefully FANG can break out of the resistance of 106 level.
If close > 106, I like the upside here.
FANG has been trading in the same channel for a while now, making this opportunity even more attractive, I will be keeping an eye on it for a possible reversal.
Although the stock looks great, the RSI and MACD don't look that great, so it could continue its current trend (down).
A large number of oil and gas companies are coming up on my screens for long positions. This is one of them. Looks primed for a very nice speedy pop next month or 3
This chart looks technical, it made a bullish ABCD pattern to the upside and then proceeded to consolidate this past year. when the market started falling down into the abyss fang had to follow. Since going public in 2013 FANG gained 700% therefore i am not looking for a long term value buy instead a short term counter bounce trade
Timing = 1 ( i think the...
$FANG Swing Idea (weekly Chart) :
Buying zone : $83 to $86
Stop below $82
Donot take at first shot. Let it hold and bounce then take the retest.
Note: Only if market makes a bottom and turns from there.
Pun intended, but this is easily one of my more scrambled, messy / sloppy posts. Seen this pattern before, just can't tell which is more suitable? Feel free to check out $BIDU or $FDS to copy / paste bar patterns ($FDS is due for new up-side high) while $BIDU is back towards low (but potential to see more up-side, again). My long target would be 223% $137-$138, so...
Purchasing a put with a lower strike price than the written put provides a bullish strategy. Trade will be doing this coming week.
Stock: FANG
Current Price: 113.86
Short Put
WRITE
Option: 15th Jun $115.00 PUT
Price per option: $ 2.85
Contracts: #1 x 100
Total cost: $285
Long Put
BUY
Option: 15th Jun $110.00 PUT
Price per option: $ 0.83
Contracts: #1 x...
