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- 4/12/2024 -
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Devon Energy Corp. (DVN) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a tenth consecutive positive week for the Devon Energy Corp. (DVN). During the week, the DVN climbed 0.15 points, or 0.28%, and closed at 53.42 on Friday, April 12, 2024. DVN was trading at average weekly trading volume.
DVN is a member of Energy Sector. Energy 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 June 9, 2022 at 79.40 and reached 40.47 on February 5, 2024. DVN lost 38.93 points, or 49.03%, in 86 weeks. The price is now at the 33.26% retracement level.
 Medium-term trend: [See DVN medium-term trend chart]
A medium-term uptrend had started on February 5, 2024 at 40.47 and reached 55.09 on April 12, 2024. DVN gained -14.62 points, or -36.13%, in 9 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 50.04 and resistance is at 56.87. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See DVN weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 16, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 February 23, 2024 at 43.13 and reached 55.09 on April 12, 2024. DVN gained -11.96 points, or -27.73%, in 49 days. The price is now at the 13.96% retracement level.
 Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (53.21) comes close to the price (53.42). It indicates that the trend is getting weaker. 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.
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