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 :Broken trend support lineOversold sectorRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice is near the Fibonacci 61.8% retracement level
Move cursor over the icon to see details.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.68
Williams' Percentage Range (W%R) 71.30
Lane's Stochastic (%D-Slow) 56.35
Greed/Fear Indicator (GFI) 39.57
Moving Average Converg./Diverg. (MACD) -1.86
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 10.14
Oversold
Williams' Percentage Range (W%R) 87.80
Oversold
Lane's Stochastic (%D-Slow) 10.97
Oversold
Greed/Fear Indicator (GFI) 18.85
Oversold
Moving Average Converg./Diverg. (MACD) -1.34
Trading Signals
Description Value Chart
Upper Bollinger Band 33.07
50 Day Moving Average 33.04
Quarterly Trendline Support 31.97
20 Day Moving Average 28.89
Daily Stochastic Crossing 27.97
Price 27.20
Weekly Stochastic Crossing 26.87
Parabolic System 26.04
Monthly Trendline Support 25.11
Lower Bollinger Band 25.07
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Independent Oil & Gas 35
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 25.87
Low Date 11/28/2018
High 29.18
High Date 12/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 43.60
High Date 08/30/2018
Low 25.87
Low Date 11/28/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 37.72
Support 25.11
High 46.54
High Date 07/10/2018
Low 25.87
Low Date 11/28/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 46.66
Support 31.97
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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