FANG has been consolidating for a few weeks now, after completing an ascending base pattern. The MACD
have reset, and are now showing bullish
parameters. Considering how you view the daily chart
trend, it appears a possible breakout has occurred on Monday, currently resting today's price on the trendline
as support. It's possible FANG can trend upward from here.
The 50MA has been FANG's support in the past. It's getting closer to price, which coincides nicely for a bounce. Additionally, Earnings
are reported early August.
I am long, and I believe this is a great opportunity for FANG.