• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Diamondback Ener (NASDAQ:FANG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Diamondback Ener (NASDAQ:FANG) based on the price action in the company's shares. Today's price range of $111.28 and $111.28 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Diamondback Ener may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Diamondback Ener share prices have been bracketed by a low of $85.19 and a high of $140.78 and are now at $111.28, 31% above that low price. The 200-day and 50-day moving averages have moved 0.17% lower and 0.56% higher over the past week, respectively.

Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas.

Diamondback Ener (NASDAQ:FANG) has potential upside of 44.9% based on a current price of $111.28 and analysts' consensus price target of $161.20. The stock should hit resistance at its 200-day moving average (MA) of $113.08, as well as support at its 50-day MA of $103.32.

SmarTrend is tracking the current trend status for Diamondback Ener and will alert subscribers who have FANG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle diamondback ener

Ticker(s): FANG