Diamondback Energy Technical Analysis (NASDAQ:FANG)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the Diamondback Energy stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the FANG stock chart which creates a trading signal.
You can view Simple Moving Average - SMA 20 day, 50 day & 100 day, Exponential Moving Average - EMA 20 day, 50 day & 100 day charts, and Bollinger Bands for Diamondback Energy. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Diamondback Energy stock analysis.
Diamondback Energy Moving Average
Moving averages show the average price of FANG stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $131.1 is above the price of $120.18.
Diamondback Energy Bollinger Bands
Bollinger bands comprise of a center line usually FANG SMA, and two FANG stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Diamondback Energy bollinger bands show that the stock price is $120.18, upper band is 141.25, lower band is 120.96, and the average is 131.1.
Diamondback Energy Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Diamondback Energy MACD line is above the signal line.
Diamondback Energy Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . The relative strength index of FANG stock is 34.29.