The Greedy Trader Weekly Analysis
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Quarterly Pattern:Falling Pennant
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

Devon Energy Corp.
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Summary:
Weekly :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :The price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was a third consecutive positive week for the Devon Energy Corp. (DVN). During the week, the DVN gained 0.55 points, or 1.25%, and closed at 44.51 on Friday, July 06, 2018. Weekly volume was -25% below average.

Long-term trend: [See DVN long-term trend chart]
A long-term downtrend had started on December 12, 2016 at 50.69 and reached 28.79 on July 7, 2017. DVN lost 21.90 points, or 43.20%, in 29 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (30.21) 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 long-term trend.

Medium-term trend: [See DVN medium-term trend chart]
A medium-term uptrend had started on April 2, 2018 at 29.83 and reached 45.20 on July 3, 2018. DVN gained -15.37 points, or -51.53%, in 13 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (42.72) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since April 27, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See DVN short-term trend chart]
A short-term uptrend had started on June 5, 2018 at 38.47 and reached 45.20 on July 3, 2018. DVN gained -6.73 points, or -17.49%, in 28 days. The price is now at the 10.25% retracement level.

Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since June 27, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.65
Williams' Percentage Range (W%R) 30.00
Lane's Stochastic (%D-Slow) 72.76
Greed/Fear Indicator (GFI) 70.79
Moving Average Converg./Diverg. (MACD) 0.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.83
Overbought
Williams' Percentage Range (W%R) 10.10
Overbought
Lane's Stochastic (%D-Slow) 86.92
Overbought Bearish
Greed/Fear Indicator (GFI) 80.03
Overbought
Moving Average Converg./Diverg. (MACD) 0.82 Bearish
Trading Signals
Description Value Chart
Parabolic System 45.25
Upper Bollinger Band 44.96
Price 44.51
Weekly Stochastic Crossing 44.37
Daily Stochastic Crossing 44.16
Weekly Trendline Resistance 43.32
Quarterly Trendline Resistance 42.96
Weekly Trendline Support 42.72
20 Day Moving Average 42.61
50 Day Moving Average 41.08
Lower Bollinger Band 40.46
Sector and Industry
Description Name Rank
Sector Basic Materials 6
Industry Independent Oil & Gas 120
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 38.47
Low Date 06/05/2018
High 45.20
High Date 07/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 43.32
Support 42.72
Low 29.83
Low Date 04/02/2018
High 45.20
High Date 07/03/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.16
High Date 01/25/2018
Low 29.83
Low Date 04/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 42.96
Support 30.21
High 50.69
High Date 12/12/2016
Low 28.79
Low Date 07/07/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 127.43
High Date 07/02/2008
Low 18.07
Low Date 02/19/2016
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.

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