$FANG - Diamondback Energy - Bull Flag & SEC Filings
3/4/21
FANG - Diamondback Energy - 9.16% Gainer
Catalysts:
Fundamentals (see details below 1,2):
-Company buyout
-Note buybacks
-Land and asset purchase
-Sector strong relative to market
Technicals (see chart):
-Bullish set up
-Great momentum over recent months.
Fundamentals con't.:
-8K's filing stated that they company would be buying out QEP, another energy and natural gas company as well as buying back senior notes due from both companies.
-Another 8K/A stated that the company "entered into a definitive purchase and sale agreement with Guidon Operating LLC to acquire approximately 32,500 net acres in the Northern Midland Basin and certain related oil and gas assets for $375 million in cash and 10.63 million shares of the Company’s common stock
-I'm going to be taking a look at some of the top daily gainers (may throw in some losers occasionally) of the day on their daily charts and posting them here throughout March. This is not advice. Just analyzing price action and patterns.
-I will try to vary the catalysts (analyst upgrades, earnings, clinical trial results, etc.) for the stock moving (if any) and the sector that the stocks are in.
-You'll notice I try to keep my charts as simple as possible. Black background and no grid. I will be focusing solely on price action, patterns, and support and resistance levels.
No moving averages, MACD, volume profiles, Bollinger bands, etc.
Please feel free to comment or leave suggestions. I am always looking to improve. Thanks.
FANG - Diamondback Energy - 9.16% GainerCatalysts:
Fundamentals (see details below 1,2):
-Company buyout
-Note buybacks
-Land and asset purchase
-Sector strong relative to market
Technicals (see chart):
-Bullish set up
-Great momentum over recent months.
Fundamentals con't.:
-8K's filing stated that they company would be buying out QEP, another energy and natural gas company as well as buying back senior notes due from both companies.
-Another 8K/A stated that the company "entered into a definitive purchase and sale agreement with Guidon Operating LLC to acquire approximately 32,500 net acres in the Northern Midland Basin and certain related oil and gas assets for $375 million in cash and 10.63 million shares of the Company’s common stock
-I'm going to be taking a look at some of the top daily gainers (may throw in some losers occasionally) of the day on their daily charts and posting them here throughout March. This is not advice. Just analyzing price action and patterns.
-I will try to vary the catalysts (analyst upgrades, earnings, clinical trial results, etc.) for the stock moving (if any) and the sector that the stocks are in.
-You'll notice I try to keep my charts as simple as possible. Black background and no grid. I will be focusing solely on price action, patterns, and support and resistance levels.
No moving averages, MACD, volume profiles, Bollinger bands, etc.
Please feel free to comment or leave suggestions. I am always looking to improve. Thanks.
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