Devon Energy Corp.
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|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.