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Look for Shares of Diamondback Ener to Potentially Rebound after Yesterday's 5.66% Sell Off

By David Diaz

Diamondback Ener (NASDAQ:FANG) traded in a range yesterday that spanned from a low of $27.46 to a high of $30.50. Yesterday, the shares fell 5.7%, which took the trading range below the 3-day low of $28.60 on volume of 2.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Diamondback Ener share prices have moved between a 52-week high of $114.14 and a 52-week low of $14.55 and are now trading 100% above that low price at $29.10 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 5.3%.

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: rebounders diamondback ener

Ticker(s): FANG