The Greedy Trader Weekly Analysis
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Number of records: 15
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
Devon Energy Corp.
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Summary:
Weekly :Oversold sectorPrice is near the Fibonacci 38.2% retracement level
Daily :The price touches the lower Bollinger Band
Move cursor over the icon to see details.

It was the negative week for the Devon Energy Corp. (DVN). During the week, the DVN dropped -0.80 points, or -1.98%, and closed at 39.67 on Friday, September 14, 2018. Weekly volume was 30% 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. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See DVN medium-term trend chart]
A medium-term downtrend had started on July 10, 2018 at 46.54 and reached 39.57 on September 14, 2018. DVN lost 6.97 points, or 14.98%, in 9 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 37.21 and resistance is at 42.81. 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 technical indicators are neutral.

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 low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 August 30, 2018 at 43.60 and reached 39.57 on September 14, 2018. DVN lost 4.03 points, or 9.24%, in 15 days. Price is near the trend low.

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

The daily MACD line is below its signal line since September 5, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

The price touches the lower Bollinger Band. 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) 30.41
Williams' Percentage Range (W%R) 68.00
Lane's Stochastic (%D-Slow) 32.65
Greed/Fear Indicator (GFI) 31.69
Moving Average Converg./Diverg. (MACD) -0.42
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.64
Williams' Percentage Range (W%R) 45.70
Lane's Stochastic (%D-Slow) 27.83
Greed/Fear Indicator (GFI) 42.63
Moving Average Converg./Diverg. (MACD) 1.59
Trading Signals
Description Value Chart
Upper Bollinger Band 43.73
50 Day Moving Average 42.97
Weekly Trendline Resistance 42.81
20 Day Moving Average 41.77
Parabolic System 41.61
Weekly Stochastic Crossing 41.29
Daily Stochastic Crossing 40.53
Price 39.67
Lower Bollinger Band 39.65
Weekly Trendline Support 37.21
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Independent Oil & Gas 17
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 43.60
High Date 08/30/2018
Low 39.57
Low Date 09/14/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 42.81
Support 37.21
High 46.54
High Date 07/10/2018
Low 39.57
Low Date 09/14/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.83
Low Date 04/02/2018
High 46.54
High Date 07/10/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.79
Low Date 07/07/2017
High 46.54
High Date 07/10/2018
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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