Devon Energy Corp.
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|It was the negative week for the Devon Energy Corp. (DVN). During the week, the DVN dropped -0.76 points, or -2.32%, and closed at 31.96 on Friday, March 16, 2018. Weekly volume was 81% above average. |
DVN is a member of Basic Materials Sector. Basic Materials is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See DVN long-term trend chart]
A long-term uptrend had started on July 7, 2017 at 28.79 and reached 45.16 on January 25, 2018. DVN gained -16.37 points, or -56.86%, in 28 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (34.53) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
Medium-term trend: [See DVN medium-term trend chart]
A medium-term downtrend had started on January 25, 2018 at 45.16 and reached 29.97 on March 2, 2018. DVN lost 15.19 points, or 33.64%, in 5 weeks. The price is now at the 13.10% retracement level.
Weekly Technical Indicators: [See DVN weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 and Williams' Percentage Range help.
The weekly MACD line is below its signal line since February 9, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 March 2, 2018 at 29.97 and reached 33.35 on March 12, 2018. DVN gained -3.38 points, or -11.28%, in 10 days. The chart has formed a Rising Channel chart pattern.
Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 2, 2018. This is an indication that the short-term trend is up.
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.