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 gained 0.76 points, or 1.84%, and closed at 42.16 on Friday, June 08, 2018. Weekly volume was 39% above average. |
DVN is a member of Basic Materials Sector. Basic Materials is the most overbought 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 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 Symmetric Triangle chart pattern. The price is near the trend resistance line (43.33). 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 April 2, 2018 at 29.83 and reached 42.89 on May 22, 2018. DVN gained -13.06 points, or -43.78%, in 7 weeks. The price is now at the 5.59% retracement level.
Weekly Technical Indicators: [See DVN weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly 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 Relative Strength Index help.
The weekly MACD line is above its signal line since April 27, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend 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 downtrend had started on May 22, 2018 at 42.89 and reached 38.47 on June 5, 2018. DVN lost 4.42 points, or 10.31%, in 14 days. The chart has formed a Broadening Descending Wedge chart pattern.
Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 24, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
The price touches the upper Bollinger Band. The distance between the Bollinger Bands (7.12%) is close to one year low (6.58%). It is 57.38% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy 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.