Cup and Handle Falling WedgeIntra-year C&H pattern looks like it is forming.. Not to long entry level for this pattern but is past long entry level for the bullish bat pattern it is trading in (see prior post) Price hit the top of the window of prior gap down and was stopped cold so watch that level at 47.25.. There is more R overhead that may slow FANG down a bit.. Falling wedges can be a reversal pattern at the bottom, not always as a stock can keep on going down in a FW as it can be a long term pattern just like it's opposite, the rising wedge. Both have trendlines that slope in the same direction and narrow, or converge at the apex. As a reversal pattern, it will slope in the direction of the trend, down. As a continuation pattern, the FW will slope against the prevailing trend (IE..in an uptrend). It takes at least 3 weeks to form which differentiates it from a pennant. Possible stop below handle low (HL) or mid cup (MC) Just an observation so be safe Longby lauralea331
Bullish BatPattern only valid at or above LE level with uptrend Possible stop below 23.6 so close to LE level which makes these patterns nice to trade. Possible T2 81.2 to 97 keeping focus on T1/Targets 1. T2 are long term targets Gap down makes great support at the bottom of the window, but possible R at top of the window. Monthly candle is bullish Just an observationLongby lauralea13132
FANG: Potential breakout to fill gap Price has found short correction on the Daily timeframe and may attempt to fill the gap. Looking at H2 chart, we need a clear breakout and a retest, then we may consider buying. Longby mohamed.tharwat.elsherief5
$FANG Diamondback Gap fill opportunity FANG has a stronger balance sheet than most, Only the strong will survive and Permian BAsin based producers have a cost advantage which may allow them to survive longer. Possible Gap fill trade by Bullishcharts2246
FANG, $10.90 Target. Oil getting much cheaper.Not financial advice. I don't know what I'm talking about. Not a professional, I am somewhere on the autistic scale. Anyways, With no real support below, this seems like the reasonable target based on the fibs. Fundamental factors could move this the other way. Shortby thejdela2
FANG, $31 First Before Decision TimeI 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 IS NOT FINANCIAL ADVICE.Longby thejdela1
Value Investor DreamClear 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*Longby kingmidasLXIXUpdated 113
"FANG": A Leading US Energy Play for 2020For 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 shoulders. I see no reason why this stock doesn't hit a $125-135 price tag by the end of 2020. In-fact, if the DXY continues to weaken, one cannot rule this stock making ATHs. In a bull market, Wall St. analysts usually underestimate target prices, while in a bear market or near a bear market they heavily overestimate market targets and stock targets. Therefore in this case, I cannot doubt this stock hitting 145-150 even though I do not forecast it necessarily. Currently the stock is overbought and at heavy resistance so a pullback should be expected, however this stock will fair very well in 2020. Advice: Enter on a pullback of >1% and open long position. - zSplit *Pullbacks and rises are not necessarily as depicted and drawn, but showing the general trend.Longby PaulDeep191312212
Short $FANG - 1D TFI 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 and DC20. So it is a dynamic SL with time. Current RR is not that favorable based on the above however continuation of the trend is quite likely and current price action suggests further down. Any comments are more than welcomed! Thank you and please trade carefully and with money only you can afford to lose. www.etoro.comShortby drgorogbalazsUpdated 1
FANG - Short for 35%: Current Price @ 84, PT at 55FANG - (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 Shoulders pattern. It might retest the neckline again, but then it's coming back own, fo sho! Take profits at 77, 66, then all out at 55.Shortby TMoneyBidness3
NeturalIt 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.by jlin53115
If FANG > 106, breakout and go longWith 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. Longby DennyPUpdated 0
FANG possible reversalFANG 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). Longby SimonAndersenUpdated 3
FANG long... no not that FANG :)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 3Longby Astatine1
her FANGS strike deep into your pockets! (2)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 market is overdue for a bounce ) Volume = 0 ( The volume has been huge on this selloff and it doesnt appear to be slowing down ) Group strength = -1 (Energy sector looks super weak and that worries me) Entry = 1 ( i like this entry below current price bc of the great volume on the selloff) Fractal = 1 (fractals support a reversal )Longby adolphus530
$FANG Swing Idea (weekly Chart)$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.Longby TradeWithZeroEmotion2
$FANG - Dat sloppy toppy 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 I'll be watching for a potential short entry after some exhaustion to break that resistance. Short A1 target would preferably be right around $121.50 - $124.50 where 55 (low) MA would be to possibly catch it as support, & eventually go back through the whole process again of a surge then plummet like we've seen $BIDU to do lol. Feel like I've seen setups like this all week lol. Regardless, break of $121.50 & I'd be sketched to get back long. If all else works out, I'd hop back in as a bull. Shortby DerekD_2
FANG - Bullish Weekly Put SpreadPurchasing 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 100 Total cost: $83 Spread: Net debit/credit: $2.02 (net credit) x 100 = $202.00 Maximum risk: $298 at a price of $110 at expiry Maximum return: $202 at a price of $115 at expiry Breakevens at expiry: $113.00 Longby AnbatUpdated 6