Diamondback Stock Forecast

Diamondback stock price ended at $207.76 on Friday, after gaining 0.319%.
(Updated on Apr 26, 2024)

FANG Signals & Forecast

The Diamondback stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $203.91 and $198.53. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -0.240%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Diamondback stock

On the downside, the stock finds support just below today's level from accumulated volume at $178.52 and $169.86. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Diamondback finds support just below today's level at $178.52. If this is broken, then the next support from accumulated volume will be at $169.86 and $165.98.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.98 between high and low, or 1.95%. For the last week the stock has had daily average volatility of 2.14%.

Since the Diamondback has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $199.48 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (FANG) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Diamondback Energy to open at $207.16, and during the day (based on 14 day Average True Range), to move between $203.72 and $211.80, which gives a possible trading interval of +/-$4.04 (+/-1.94%) up or down from last closing price. If Diamondback Energy takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $208.26 (0.24%) than the support at $178.52 (14.07%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Diamondback Energy stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Diamondback stock to perform well in the short-term.

Current score: 2.787 Buy Candidate Unchanged

Predicted Opening Price for Diamondback Energy of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.