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Williams' Percentage Range (W%R) |
Williams' %R is an effective momentum indicator that measures
overbought/oversold levels. Like other indicators, W%R ranges between 0% and
100% , but in opposite to the other indicators, the 0% indicating overbought and
100% - the oversold stocks. W%R measures the closing price in relation to the recent
low/high range. A bullish signal is generated when the W%R has reached 100,
five time bars have elapsed, and the W%R has subsequently fallen to 95. A
reverse signal is considered as bearish. For the sake of simplicity, the W%R
closed above 10% is considered bearish and below 90% - bullish. In trending
markets, the W%R stays at one end of the scale and gives false signals to
trade against the trend. That is why W%R is not considered a stand-along
technique, and it is essential to use it with some sort of trend formation
indicators. The divergence between price and W%R rarely occurs and presents an
important buy/sell signal. As our research shows, the W%R move to upper or lower
bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
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Advanced TA SearchArchive - 3/15/2024 - 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 a sixth consecutive positive week for the Devon Energy Corp. (DVN). During the week, the DVN gained 1.46 points, or 3.16%, and closed at 47.62 on Friday, March 15, 2024. Weekly volume was -8% 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 April 17, 2023 at 56.19 and reached 40.47 on February 5, 2024. DVN lost 15.72 points, or 27.98%, in 42 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 39.58 and resistance is at 52.11. 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 long-term trend. Medium-term trend: [See DVN medium-term trend chart] A medium-term uptrend had started on February 5, 2024 at 40.47 and reached 48.29 on March 15, 2024. DVN gained -7.82 points, or -19.32%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 46.13 and resistance is at 50.41. 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 is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 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 low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 48.29 on March 15, 2024. DVN gained -5.16 points, or -11.96%, in 21 days. The price is now at the 12.98% retracement level. Daily Technical Indicators: [See DVN daily technical indicators chart] Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 links to access Lane's Stochastic and 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.
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