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Diamondback Ener Set to Possibly Rebound After Yesterday's Selloff of 5.31%

By Amy Schwartz

Diamondback Ener (NASDAQ:FANG) traded in a range yesterday that spanned from a low of $98.66 to a high of $102.17. Yesterday, the shares fell 5.3%, which took the trading range below the 3-day low of $104.84 on volume of 991,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Diamondback Enerhas traded in a range of $98.66 to $140.78 and are now at $99.50. The 200-day and 50-day moving averages have moved 0.18% lower and 1% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Diamondback Ener on October 11th, 2018 by issuing a Downtrend alert when the shares were trading at $127.14. Since that call, shares of Diamondback Ener have fallen 17.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders diamondback ener

Ticker(s): FANG