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SmarTrend Watching for Potential Pullback in Shares of Diamondback Ener After 13.31% Gain

By David Diaz

Diamondback Ener (NASDAQ:FANG) traded in a range yesterday that spanned from a low of $24.33 to a high of $26.84. Yesterday, the shares gained 13.3%, which took the trading range above the 3-day high of $26.82 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Diamondback Ener have traded between a low of $14.55 and a high of $114.14 and are now at $26.73, which is 84% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 6.6%.

SmarTrend is monitoring the recent change of momentum in Diamondback Ener. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Diamondback Ener in search of a potential trend change.

Keywords: rebounders diamondback ener

Ticker(s): FANG