DEVON ENERGY CORP (DVN) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:DVN - US25179M1036 - Common Stock
Overall DVN gets a technical rating of 6 out of 10. DVN has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.
Although the technical rating is only medium, DVN does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 37.53. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 35.66, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
31.41
When analyzing the support we can see 3 important areas.
- A support zone ranging from 35.00 to 35.66. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 33.04 to 33.52. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 31.73 to 32.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 37.53 to 38.42. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for DVN is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for DVN is neutral. |
| ChartMill Relative Strength | 57.86 | NEUTRAL | DVN is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of DVN is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of DVN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of DVN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 46.65 | NEUTRAL | The RSI value for DVN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.25 | NEGATIVE | The MACD value suggests DVN has a negative trend. |
| Stochastics (14,3) | 32.54 | NEUTRAL | The Stochastics value for DVN is a neutral value. |
| Average True Range in percent/ATR (20) | 2.73 | MEDIUM VOLATILITY | The ATR as a percentage value for DVN suggests some volalility. |
| Average Directional Index/ADX (14) | 35.53 | POSITIVE | The high ADX value value for DVN suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 36.20 | 34.99 | 1.21 (3.35%) | 25.00% |
| An entry @36.20. This is a Buy Stop order right above the 10 day moving average. | An exit @34.99. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.21 points, which is 3.35%. | For a 0.84% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of DVN. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
35.67
-0.53 (-1.46%)
DEVON ENERGY CORP / DVN FAQ
What is the technical rating for DVN stock?
ChartMill assigns a technical rating of 6 / 10 to DVN.
What is the trend direction for DVN stock?
The current trend direction for DEVON ENERGY CORP (DVN) is Bullish.
Can you provide the RSI signal for DEVON ENERGY CORP?
DEVON ENERGY CORP (DVN) has an RSI value of 46.649. This indicates that the stock is currently neutral.
What is the MACD signal for DEVON ENERGY CORP (DVN) stock?
The MACD indicator for DEVON ENERGY CORP (DVN) has a value of -0.247336, indicating a bearish trend.
Can you provide the support and resistance levels for DEVON ENERGY CORP?
DEVON ENERGY CORP (DVN) has a support level at 35.66 and a resistance level at 37.53. Check the full technical report for our detailed analysis of DVN support and resistance levels.