APRIL SALE: Save over 60% on our Pro Plans!

DVN closes higher for the 2nd day in a row


Technical Analysis Report for DVN - Apr 16, 2018 [1 min read]
Highlights
DVN closes higher for the 2nd day in a row
DVN ends the day on a bullish note closing near the high of the day
DVN finds buyers again around 33.12
DVN stuck within tight trading range
DVN closes within previous day's range after lackluster session
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, DVN finished Monday at 33.62 edging higher $0.02 (0.06%) on low volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for DVN
Volatility

Monday's trading range was $0.60 (1.78%), that's far below last trading month's daily average range of $1.03. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 32.83 and 33.89 which it has been in now for the last three days.

Support/Resistance

Prices are trading close to the key resistance level at 33.89. After having been unable to move lower than 33.13 in the prior session, the market found buyers again around the same price level today at 33.12.

Trend

While the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 33.89 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 32.83 where further sell stops could get triggered.

Conclusion

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

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Low close to previous low TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

DVN breaks below 200-day moving average

Apr 24, 2018
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.

Signup

Stocks Top Movers

ETHUSD 706.3763.66 9.90%
BTCUSD 9,656.35704.38 7.87%
NATGAS 2.8110.032 1.15%
GOLD 1,332.25.6 0.42%
GBPUSD 1.39770.0039 0.28%
DXY 90.540-0.165 -0.18%
NKY 22,215.32-62.80 -0.28%
TBOND 142.344-0.594 -0.42%
FTSE 7,379.32-46.08 -0.62%
HSI 30,327.77-308.47 -1.01%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.