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Advanced TA SearchArchive - 5/10/2024 - Sign In to see current Signals. |
Devon Energy Corp. (DVN) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Devon Energy Corp. (DVN). During the week, the DVN gave back -0.42 points, or -0.83%, and closed at 50.12 on Friday, May 10, 2024. Weekly volume was -38% below average. 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 Symmetric Triangle chart pattern. The uptrend support line (53.92) 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 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 February 16, 2024. This is an indication that the medium-term trend is up. 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 April 29, 2024 at 53.20 and reached 49.78 on May 1, 2024. DVN lost 3.42 points, or 6.43%, in 2 days. The price is now at the 9.94% retracement level. Daily Technical Indicators: [See DVN daily technical indicators chart] Daily technical indicators are neutral. Daily MACD has bullish 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 bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. The daily MACD line is below its signal line since April 12, 2024. This is an indication that the short-term trend is down. During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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