The Greedy Trader Weekly Analysis
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Monthly Pattern:Broadening Ascending Wedge
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Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation Pattern appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

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- 7/3/2025 -
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Devon Energy Corp. (DVN) Technical Analysis

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Summary:
Weekly :Broken trend resistance lineTrend support at 32.78
Daily :Stochastic signal line moved above oversold areaA Parabolic SAR indicator is below and near the priceThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Devon Energy Corp. (DVN). During the week, the DVN gained 0.98 points, or 3.04%, and closed at 33.23 on Thursday, July 3, 2025. Weekly volume was -35% below average.

Long-term trend: [See DVN long-term trend chart]
A long-term downtrend had started on June 9, 2022 at 79.40 and reached 25.89 on April 9, 2025. DVN lost 53.51 points, or 67.39%, in 147 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend support (32.78) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See DVN medium-term trend chart]
A medium-term downtrend had started on April 12, 2024 at 55.09 and reached 25.89 on April 9, 2025. DVN lost 29.20 points, or 53.00%, in 51 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (20.94) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See DVN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 9, 2025. Use the following link to access a MACD help.

Short-term trend: [See DVN short-term trend chart]
A short-term downtrend had started on June 13, 2025 at 35.60 and reached 31.49 on July 1, 2025. DVN lost 4.11 points, or 11.54%, in 18 days. The price is now at the 42.34% retracement level.

Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since June 23, 2025. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (33.56) comes close to the price (33.23). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.40
Williams' Percentage Range (W%R) 51.60
Lane's Stochastic (%D-Slow) 28.68
Greed/Fear Indicator (GFI) 39.81
Moving Average Converg./Diverg. (MACD) 0.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.01
Williams' Percentage Range (W%R) 42.30
Lane's Stochastic (%D-Slow) 62.65
Greed/Fear Indicator (GFI) 58.68
Moving Average Converg./Diverg. (MACD) -1.69
Trading Signals
Description Value Chart
Yearly Trendline Resistance 38.52
Monthly Trendline Resistance 36.14
Upper Bollinger Band 34.99
Weekly Stochastic Crossing 33.67
Parabolic System 33.56
Price 33.23
20 Day Moving Average 33.23
Monthly Trendline Support 33.10
Yearly Trendline Support 32.78
50 Day Moving Average 32.31
Daily Stochastic Crossing 32.18
Quarterly Trendline Resistance 31.91
Lower Bollinger Band 30.72
Sector and Industry
Description Name Rank
Sector Energy 4
Industry Oil & Gas Exploration & Production 42
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 31.49
Low Date 07/01/2025
High 33.53
High Date 07/03/2025
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 35.60
High Date 06/13/2025
Low 31.49
Low Date 07/01/2025
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 36.14
Support 33.10
Low 25.89
Low Date 04/09/2025
High 35.60
High Date 06/13/2025
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 31.91
Support 20.94
High 55.09
High Date 04/12/2024
Low 25.89
Low Date 04/09/2025
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Support
Resistance 38.52
Support 32.78
High 79.40
High Date 06/09/2022
Low 25.89
Low Date 04/09/2025
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.