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Archive
- 8/7/2026 -
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Diamondbac (FANG) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Diamondbac (FANG). During the week, the FANG dropped -14.91 points, or -7.35%, and closed at 188.04 on Friday, August 7, 2026. It was the worst weekly loss since May 8, 2026. FANG was trading at average weekly trading volume.
 Long-term trend: [See FANG long-term trend chart]
A long-term uptrend had started on April 9, 2025 at 114.00 and reached 214.51 on May 4, 2026. FANG gained -100.51 points, or -88.17%, in 55 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 176.59 and resistance is at 231.31. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See FANG medium-term trend chart]
A medium-term downtrend had started on May 4, 2026 at 214.51 and reached 170.10 on July 2, 2026. FANG lost 44.41 points, or 20.70%, in 8 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See FANG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since June 5, 2026. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See FANG short-term trend chart]
A short-term uptrend had started on July 2, 2026 at 170.10 and reached 210.55 on July 24, 2026. FANG gained -40.45 points, or -23.78%, in 22 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (199.44) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FANG may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See FANG daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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