DEVON ENERGY CORP (DVN) Technical Analysis
NYSE:DVN • US25179M1036
Overall DVN gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, DVN is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that DVN is one of the better performing stocks in the market, outperforming 82% of all stocks. We also observe that the gains produced by DVN over the past year are nicely spread over this period.
- DVN is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- DVN is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- DVN has an average volume of 11395700 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- DVN is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 52% of 207 stocks in the same industry.
DVN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. 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
31.49
We found 6 important support areas.
- Support @43.52 from a horizontal line in the weekly time frame.
- Support @42.61 from a horizontal line in the daily time frame.
- Support @36.55 from a trend line in the daily time frame.
- Support @34.47 from a trend line in the weekly time frame.
- A support zone ranging from 33.22 to 33.29. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @31.81 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 43.88 to 44.97. This zone is formed by a combination of multiple trend lines and important moving averages 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 | UP | POSITIVE | The short term trend for DVN is up. |
| ChartMill Relative Strength | 82.3 | POSITIVE | DVN has a high relative strength, it outperformed 82.3% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of DVN is below the rising 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) | 54.3 | NEUTRAL | The RSI value for DVN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.2 | NEGATIVE | The MACD value suggests DVN has a negative trend. |
| Stochastics (14,3) | 58.81 | NEUTRAL | The Stochastics value for DVN is a neutral value. |
| Average True Range in percent/ATR (20) | 3.37 | MEDIUM VOLATILITY | The ATR as a percentage value for DVN suggests some volalility. |
| Average Directional Index/ADX (14) | 30.28 | 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 |
|---|---|---|---|
| 44.98 | 43.51 | 1.47 (3.27%) | 25.00% |
| An entry @44.98. This is a Buy Stop order right above the resistance zone. | An exit @43.51. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.47 points, which is 3.27%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.82%. |
- 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.
DVN Technicals: Chart, Performance Metrics, Trend & Indicators
43.7
-1.12 (-2.5%)
DEVON ENERGY CORP / DVN FAQ
What is the technical rating for DVN stock?
ChartMill assigns a technical rating of 10 / 10 to DVN.
What is the current trend direction of DEVON ENERGY CORP (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 54.3006. This indicates that the stock is currently neutral.
What is the MACD signal for DVN stock?
The MACD indicator for DEVON ENERGY CORP (DVN) has a value of -0.198073, indicating a bearish trend.
What are the support and resistance levels for DEVON ENERGY CORP (DVN) stock?
DEVON ENERGY CORP (DVN) has a support level at 43.52 and a resistance level at 43.88. Check the full technical report for our detailed analysis of DVN support and resistance levels.