Devon Energy Corp.
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|It was a second consecutive positive week for the Devon Energy Corp. (DVN). During the week, the DVN climbed 0.17 points, or 0.63%, and closed at 27.20 on Friday, December 07, 2018. Weekly volume was 43% above average. |
DVN is a member of Basic Materials Sector. Basic Materials is the 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 46.54 on July 10, 2018. DVN gained -17.75 points, or -61.65%, in 52 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (31.97) 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 July 10, 2018 at 46.54 and reached 25.87 on November 28, 2018. DVN lost 20.67 points, or 44.41%, in 20 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 25.11 and resistance is at 37.72. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern 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 oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index, 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 17, 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 November 28, 2018 at 25.87 and reached 29.18 on December 3, 2018. DVN gained -3.31 points, or -12.79%, in 5 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.