Devon Energy Corp.
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|It was the negative week for the Devon Energy Corp. (DVN). During the week, the DVN dropped -0.80 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.