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 :Overbought sectorRelative Strength Index is overboughtLane's Stochastic is strongly overboughtTrend resistance at 43.33
Daily :The price touches the upper Bollinger BandThe Bollinger Bands are historically close together
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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.03
Williams' Percentage Range (W%R) 26.00
Lane's Stochastic (%D-Slow) 58.02
Greed/Fear Indicator (GFI) 61.01
Moving Average Converg./Diverg. (MACD) 1.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.45
Overbought
Williams' Percentage Range (W%R) 22.30
Lane's Stochastic (%D-Slow) 90.78
Strong Overbought
Greed/Fear Indicator (GFI) 76.86
Moving Average Converg./Diverg. (MACD) 0.01
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 43.33
Upper Bollinger Band 42.18
Price 42.16
Weekly Stochastic Crossing 42.01
20 Day Moving Average 41.43
Daily Stochastic Crossing 41.26
Lower Bollinger Band 39.17
Parabolic System 38.75
50 Day Moving Average 37.55
Sector and Industry
Description Name Rank
Sector Basic Materials 10
Industry Independent Oil & Gas 115
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 42.89
High Date 05/22/2018
Low 38.47
Low Date 06/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.83
Low Date 04/02/2018
High 42.89
High Date 05/22/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.16
High Date 01/25/2018
Low 29.83
Low Date 04/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 43.33
Support 30.10
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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