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Archive
- 7/24/2026 -
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Diamondbac (FANG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third positive week after 4 consecutive negative weeks for the Diamondbac (FANG). During the week, the FANG gained 9.14 points, or 4.67%, and closed at 204.68 on Friday, July 24, 2026. Weekly volume was -21% below average.
 Long-term trend: [See FANG long-term trend chart]
A long-term downtrend had started on July 17, 2024 at 214.50 and reached 114.00 on April 9, 2025. FANG lost 100.50 points, or 46.85%, in 38 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (174.71) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FANG may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.
 Medium-term trend: [See FANG medium-term trend chart]
A medium-term uptrend had started on September 15, 2025 at 134.30 and reached 214.51 on May 4, 2026. FANG gained -80.21 points, or -59.72%, in 33 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 148.21 and resistance is at 242.27. 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 medium-term trend.
 Weekly Technical Indicators: [See FANG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.
The weekly MACD line is below its signal line since June 5, 2026. Use the following link to access a MACD help.
 Short-term trend: [See FANG short-term trend chart]
A short-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 59 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (206.99). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
 Daily Technical Indicators: [See FANG daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since July 7, 2026. The distance between MACD and the signal line is near its high and getting bigger.
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