FANG Forms Cup with Handle, Stage 2 Uptrend Nears Breakout

Posted on by Eben@CANSLIM Research
FANG daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY — CANSLIM Research
Eben@CANSLIM Research's avatarEben@CANSLIM Research

Diamondback Energy (FANG) is consolidating in a 14-week Cup with Handle base, with the handle low set on August 5 and the pivot at $204.36. Price is holding above a rising 30-week moving average, confirming a Stage 2 advancing trend, while 7 of 8 trend-template checks pass. The overall sentiment is bullish, with the stock just 4.2% below its 52-week high and positioned for a potential breakout.

Technical Analysis

As of 2026-08-14 · Close $202.47

Stage Analysis

Stage 2 (Advancing) — Price holding above a rising 30-week MA — uptrend intact (30-week MA 6-week slope: 4.84%)

Detected Patterns — What the Market Is Watching

  • Cup with Handle — depth 19.1%, length 14 weeks, pivot $204.36. Base formed from 2026-05-04 (left-side high) to 2026-07-23, with the low of $171.02 set on 2026-07-01
  • Handle: formed from 2026-07-23 (high $204.36) to 2026-08-05 (low $185.15) — a 9.4% pullback

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