Diamondback Energy (FANG) shares of the quality energy name are starting to curl higher from the recent pullback to the 150 zone of support and seeing MACD near a bullish cross as prices try to regain the 21 EMA above 156. The stock might need a few more days but seems to be setting up for a resumption of the trend higher for a move back to retest 160 at least and if can close above on volume then likely to head back to its previous highs of 171 from mid-October. FANG has a clear stop level if it fell under 150 at this point but a nice risk reward of risking 4 to make a possibly 15 points or more. FANG had an interesting options trade on 11/21 with 500 Jan 2025 $167.47 calls bought at $17.57, as Jan 2024 $166.51 calls sell in calendars, seeing a potential ceiling near 167-170 into yearend but then longer term upside.