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Diamondback Ener: The Losing Streak Continues (FANG)

By Nick Russo

Shares of Diamondback Ener (NASDAQ:FANG) traded at a new 52-week low today of $18.05. Approximately 860,000 shares have changed hands today, as compared to an average 30-day volume of 3.6 million shares.

In the past 52 weeks, shares of Diamondback Ener have traded between the current low of $18.05 and a high of $114.14 and are now at $18.09. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.7% while the 200-day MA has slid 1.3%.

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

Diamondback Ener has overhead space with shares priced $18.09, or 88.8% below the average consensus analyst price target of $161.20. The stock should find initial resistance at its 50-day moving average (MA) of $70.02 and further resistance at its 200-day MA of $87.05.

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: 52 week high/lows diamondback ener

Ticker(s): FANG