DVN pushes through prior session high


Devon Energy Corp. (DVN) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
DVN closes higher for the 2nd day in a row
DVN pushes through previous session high
DVN rises to highest close since January 29th
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, DVN finished Thursday at 42.36 gaining $0.96 (2.32%). Today's closing price of 42.36 marks the highest close since January 29th. Closing above Wednesday's high at 41.59, the share confirms its breakout through the previous session's high having traded $1.11 above it intraday.

Daily chart for DVN
Volatility

Thursday's trading range was $1.03 (2.47%), that's slightly below last trading month's daily average range of $1.16. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

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

Market Conditions for Devon Energy Corp.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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