DVN slumps, loses $1.21 (-2.96%) within a single day

Devon Energy Corp. (DVN) Technical Analysis Report for Sep 14, 2018

Highlights

DVN crashes, loses $1.21 (-2.96%) within a single day
DVN breaks key support level
DVN dominated by bears dragging the market lower throughout the day
DVN closes lower for the 2nd day in a row
DVN ends the day on a bearish note closing near the low of the day

TQ Sentiment

Report Sentiment: 71% Bearish
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, DVN finished the week -1.98% lower at 39.67 after tanking $1.21 (-2.96%) today on high volume. This is the biggest single day loss in over a month. Today's closing price of 39.67 marks the lowest close since June 5th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 40.68, the stock confirms its breakout through the prior session's low having traded $1.11 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for DVN

Volatility

Friday's trading range was $1.51 (3.7%), that's far above last trading month's daily average range of $0.87. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking below the key support level at 40.39 today, it is now likely to act as resistance going forward.

Trend

Although still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Conclusion

While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Devon Energy Corp.

Loading Market Conditions for $DVN (Devon Energy Corp.)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Devon Energy Corp. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ANDV 10 day candlestick chart for ANDV 154.73 2.17 (1.42%)
APA 10 day candlestick chart for APA 45.96 0.29 (0.63%)
APC 10 day candlestick chart for APC 64.64 0.78 (1.22%)
AR 10 day candlestick chart for AR 19.08 -0.71 (-3.59%)
AXAS 10 day candlestick chart for AXAS 2.40 0.05 (2.13%)
BHGE 10 day candlestick chart for BHGE 32.90 0.44 (1.36%)
CDEV 10 day candlestick chart for CDEV 20.83 0.35 (1.71%)
CHK 10 day candlestick chart for CHK 4.44 0.03 (0.68%)
CLR 10 day candlestick chart for CLR 62.23 0.48 (0.78%)
CNX 10 day candlestick chart for CNX 14.61 -0.09 (-0.61%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!