Rise

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Diamondback Energy stock price closed at $145.64 while observing a gain of 0.89% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>FANG stock price trades above 20, 50, 100, and 200-day EMAs.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of FANG Stock is 7.91% while the six-month return is -2.91%.</a> </li> 
</ul> 
<p>FANG stock price has been in an uptrend, forming higher lows, since the formation of support at $124 at the end of June 2023. The stock price had several retracements but could not shift the trend. Currently, Diamondback Energy’s stock price is headed toward an annual high of $152.79.&nbsp;</p> 
<p>Recently, the stock price broke the resistance level of $140.80 and targeted the $150 psychological level but the move was halted at $146.30. The candle of 27th July 2023 closed bearish indicating the presence of bears near $150.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/rnhww6Pyt5dobxtVfeGKGYnA78KNTg2f46ByrrWMsHVz4Gra5roHCz-d57_Fi7se9mBID3hrm_7uTnEyE2tIoxvwH5wGb0PGebmxYG09uTDlPDLR6plytfyFRSffSTWJ2IE4YpYMjRolxNWaifB2ojc" alt="Diamondback Energy (FANG) Stock: Will Q2 Earnings Boost Price?"> 
  <figcaption class="wp-element-caption">
    Source: FANG Stock Price By <a href="https://www.tradingview.com/x/QFkhMJux/" rel="noopener noreferrer nofollow">TradingView</a>.&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>The last candle broke the low of the 27th July candle but bulls entered the market and pushed the price above $145. The last candle closed bullish with a long lower wick.&nbsp;</p> 
<p>If the price can rise above $146.30, there is a possibility that it might head toward the $150 resistance. On the other hand, if bears take control and push the price below $140.80, it might melt toward the next support level of $134.90 causing a downfall of 4.22% in the price.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-expectations-for-fang-second-quarter-results-strong"><strong>Expectations for FANG Second Quarter Results</strong></h2> 
<p><a href="https://www.thecoinrepublic.com/2023/07/26/will-fang-stock-nasdaq-fang-meet-150-ahead-of-q2-results/" rel="noopener noreferrer nofollow">Diamondback Energy</a> has scheduled the release of second-quarter results on July 31, 2023. The consensus estimate for the to-be-reported Quarter is $3.88 per share on revenue of $1.896 Billion.&nbsp;</p> 
<p>In the first quarter, FANG missed the earning per share by $0.23 (5.41%) as the consensus estimated the earning per share to be $4.33 while it turned out to be $4.10. The company was successful in reporting revenue more than the consensus estimate.&nbsp;</p> 
<p>The second quarter results are likely to have benefited from the higher production. The company has been continuously churning out volumes from its wide inventory of drill-ready locations in the Permian basin. However, lower oil and gas realizations are likely to downgrade Diamondback Energy’s revenue and cash flow.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-fang-stock-price-rise-to-150-strong"><strong>Will Fang Stock Price Rise to $150?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/CCLjkTTbm723J6qkCU9uMIrWXYekGzbmiDzE478RuZ5kC__pFsHXbLrX0nZ0h9G5liIr2e2fNDnacuw1QhHw7R46Lpjfdz6bNw5JyHKkDOWgXTn9NfBRb8TYnE_LDUSBa-UqcepM-N-NMdHDqnW4nPs" alt="Diamondback Energy (FANG) Stock: Will Q2 Earnings Boost Price?"> 
  <figcaption class="wp-element-caption">
    Source: FANG Stock Price By <a href="https://www.tradingview.com/x/V2JH7dWa/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The FANG <a href="https://www.thecoinrepublic.com/2023/07/26/will-fang-stock-nasdaq-fang-meet-150-ahead-of-q2-results/" rel="noopener noreferrer nofollow">stock price</a> trades above 20, 50, 100, and the 200-day Exponential moving average, indicating bullish momentum. Chaikin money flow (CMF) score is 0.16 suggesting strength in the market. The relative strength index (RSI) entered into the overbought zone and the price entered into a short-term pullback.&nbsp;</p> 
<p>RSI currently trades at 68.79 and is upward sloping, but will soon enter into the overbought zone again. The Bollinger bands have also expanded indicating an increase in volatility. FANG price has been trading near the upper band since the bullish rally started.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>There is uncertainty about whether Diamondback Energy will beat the estimates or not. If the results are positive, the FANG price might trade above $150. The market structure and price action are bullish and there are no signs of short-term pullback.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Major support: $134.90 and $127</li> 
 <li>Major resistance: $150 and $156&nbsp;</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss</p>

Diamondback Energy (FANG) Stock: Will Q2 Earnings Boost Price?

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