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 :Stochastic signal line moved below overbought areaTrend resistance at 20.93Broken trend support line
Daily :Bearish Three Black Crows CandlestickRelative Strength Index and Lane's Stochastic are oversoldStochastic has raised above the signal lineThe Bollinger Bands are historically far apart
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 -5.35 points, or -13.36%, and closed at 34.68 on Friday, February 09, 2018. Weekly volume was 89% above 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 Falling Pennant chart pattern. The price is near the trend resistance line (20.93). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See DVN medium-term trend chart]
A medium-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 Rising Channel chart pattern. The uptrend support line (40.83) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. DVN may retest the broken support line. It is considered to be a resistance line now. 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 medium-term trend.

Weekly Technical Indicators: [See DVN weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since August 25, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 January 25, 2018 at 45.16 and reached 32.69 on February 9, 2018. DVN lost 12.47 points, or 27.61%, in 15 days. The price is now at the 15.96% retracement level.

Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Relative Strength Index and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since January 24, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (35.99%) is close to one year high (27.99%). It is 163.57% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.

Candlestick pattern: [See DVN candlestick chart pattern]
On Friday the chart has formed a Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 7.19
Strong Oversold
Williams' Percentage Range (W%R) 79.20
Lane's Stochastic (%D-Slow) 7.92
Strong Oversold
Greed/Fear Indicator (GFI) 11.96
Oversold
Moving Average Converg./Diverg. (MACD) -0.39
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.26
Williams' Percentage Range (W%R) 79.20
Lane's Stochastic (%D-Slow) 68.24
Greed/Fear Indicator (GFI) 44.19
Moving Average Converg./Diverg. (MACD) 1.31
Trading Signals
Description Value Chart
Upper Bollinger Band 46.40
20 Day Moving Average 41.51
Monthly Trendline Support 40.83
50 Day Moving Average 40.67
Weekly Stochastic Crossing 40.48
Parabolic System 39.06
Price 34.68
Lower Bollinger Band 33.92
Quarterly Trendline Support 33.74
Daily Stochastic Crossing 33.52
Sector and Industry
Description Name Rank
Sector Basic Materials 4
Industry Independent Oil & Gas 47
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 45.16
High Date 01/25/2018
Low 32.69
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.78
Low Date 08/18/2017
High 45.16
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 46.39
Support 40.83
Low 28.79
Low Date 07/07/2017
High 45.16
High Date 01/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Test Resistance
Resistance 20.93
Support 33.74
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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