Diamondback Energy Inc. (FANG) presently testing channel resistance, able to contain weekly buying pressures.
From here, (FANG) can fall to recent support, eliciting losses of 15% over the following 1 - 2 months.
A settlement below this key support would ignite further losses where (FANG) can fall 20 - 30% over the following 2 - 3 months.
Inversely, a weekly settlement above channel resistance would put (FANG) into a buy signal where gains of 30% can be expected over the next 3 - 5 months.
From here, (FANG) can fall to recent support, eliciting losses of 15% over the following 1 - 2 months.
A settlement below this key support would ignite further losses where (FANG) can fall 20 - 30% over the following 2 - 3 months.
Inversely, a weekly settlement above channel resistance would put (FANG) into a buy signal where gains of 30% can be expected over the next 3 - 5 months.
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