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Downtrend ExhaustionArchive
- 12/13/2024 -
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Devon Energy Corp. (DVN) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Devon Energy Corp. (DVN). During the week, the DVN dropped -1.11 points, or -3.17%, and closed at 33.88 on Friday, December 13, 2024. Weekly volume was 50% above average.
 Long-term trend: [See DVN long-term trend chart]
A long-term downtrend had started on June 9, 2022 at 79.40 and reached 33.39 on December 13, 2024. DVN lost 46.01 points, or 57.95%, in 131 weeks. Price is near the trend low.
 Medium-term trend: [See DVN medium-term trend chart]
A medium-term downtrend had started on April 12, 2024 at 55.09 and reached 33.39 on December 13, 2024. DVN lost 21.70 points, or 39.39%, in 35 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 32.41 and resistance is at 38.75. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See DVN weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since May 31, 2024. This is an indication that the medium-term trend is down. 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 November 6, 2024 at 40.54 and reached 33.39 on December 13, 2024. DVN lost 7.15 points, or 17.64%, in 37 days. The chart has formed a Descending Triangle chart pattern. The downtrend support line (37.68) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 short-term trend.
 Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since November 26, 2024. This is an indication that the short-term trend is down.
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