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Downtrend Broken Resist.Archive
- 1/17/2025 -
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Devon Energy Corp. (DVN) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a fourth positive week after 4 consecutive negative weeks for the Devon Energy Corp. (DVN). During the week, the DVN gained 1.96 points, or 5.45%, and closed at 37.95 on Friday, January 17, 2025. Weekly volume was 43% above 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 30.39 on December 20, 2024. DVN lost 49.01 points, or 61.73%, in 132 weeks. The price is now at the 15.43% retracement level.
 Medium-term trend: [See DVN medium-term trend chart]
A medium-term downtrend had started on April 12, 2024 at 55.09 and reached 30.39 on December 20, 2024. DVN lost 24.70 points, or 44.84%, in 36 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (29.21) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. DVN may retest the broken resistance line. It is considered to be a support 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 resistance line 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 above oversold area. Such crossover is considered a bullish 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 below its signal line since May 31, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 December 20, 2024 at 30.39 and reached 38.73 on January 15, 2025. DVN gained -8.34 points, or -27.44%, in 26 days. The price is now at the 9.35% retracement level.
 Daily Technical Indicators: [See DVN daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since December 30, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
The distance between the Bollinger Bands is 125.47% higher then one year average. It indicates the period of high volatility of the stock price. 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.
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