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.
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.
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).
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.
Current Price: 113.86
Option: 15th Jun $115.00 PUT
Price per option: $ 2.85
Contracts: #1 x 100
Total cost: $285
Option: 15th Jun $110.00 PUT
Price per option: $ 0.83
Contracts: #1 x...
This bearish diamond top is predicting the recent downside momentum will continue with measured target price at $63 next 8 weeks. If u decide to take short bet against this trade use tight stop loss at and around $75. Real-time alerts www.2waytrading.com
On my May 23 post, I explained the build up of FANG's Ascending Base pattern (). Since then, it's completed, breaking out on June 3 and continuing to its target shown in light blue on the graph. FANG now appears to be forming a Flag pattern, which tends to continue the previous trend (up) after breaking out of the flag...
Looks like a big distribution day in FANG. Price has been following a channel pretty much since it IPO'd in late 2012. It broke the channel to the upside on 6/11, and is currently near the 1.382 channel fib, but was not able to close above it. With vol 3x normal and today's close basically unchanged from yesterday's close, this could be a signal of a...