Low Risk, Higher Reward: Devon EnergyOil is setting up nicely for a move up. A sizzling hot economy still burning off stimulus with rate cuts will do that! Hopefully this trade will be valid for 2-3 months and PGMs will look good.
D1VN34 trade ideas
Weekly Chart Breakoutneed to keep eye on it. volume is more then last a few week and a nice up trend can come after that
DVN triangle breakoutReasons for bullish bias:
- Price bounced from strong support
- Entry is at the breakout of the triangle
- Targets set till projection
Entry Level(Buy Stop): 45.96
Stop Loss Level: 40.21
Take Profit Level 1: 51.71
Take Profit Level 2: 63.19
Take Profit Level 3: Open
DVN – Where’s it going?DVN is rallying and is looking strong. The RSI hasn’t been this strong since 10/21 and that lead to a rally that saw the stock double. I am skeptical that this happens again. It could be overbought here. It has a lot of overhead supply where it may meet resistance. The fact that it has recovered the 200-day SMA should attract attention of fund managers. Scenarios I see are that it could advance to the 52 area and retreat or we can see an area to the 45 area and that is probably a nice spot to go long. If DVN can clear 55 I think any retracements are buyable.
🚀 DVN Wave 3DVN appears to have finished its wave 2 bottom and is entering wave 3. Indicator went long on March 6 and is overbought on the daily so there may be an opportunity to buy after a pull back around $45. Either way if this is wave 3, there is a long way to go so just being in the trade is what's important.
NYSE:DVN
www.tradingview.com
$DVN - LongNYSE:DVN looks like a good long position into earnings. Has taken a significant beating over the past few months. Bounced off a strong level of support in low $40s. Rotation into energy, geo political risks, etc. Looks like a cup and handle could form. MACD is tilting up, and could cross. RSI has already crossed.
DVN longAfter the descent of the oil and the ascent of the dollar, DVN could benefit from a mean reversal momentum
Fibonacci suggests a tasty target to $46
DVN weakness could mean 20$s prices...Looking at the weekly support-resistance levels we're at important support level right now, if its broken we are potentially going to 25-20s prices
Long growth stock worth considering.Devon Energy could see decent growth over the next few years, with energy prices going up globally because of a number of variables associated with government policies that effect fossil energy imports. Keep a look out for policy changes and importing and exporting crude costs.
DVN Devon Energy Corporation Options Ahead of EarningsAnalyzing the options chain and the chart patterns of DVN Devon Energy Corporation prior to the earnings report this week,
I would consider purchasing the 47usd strike price Calls with
an expiration date of 2024-1-19,
for a premium of approximately $3.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
DVN ready 31 aug 2023If you get an entry at 49 then that would be perfect with SL. Dvn should breakout anytime
Symmetrical TriangleNeutral pattern until broken with a trend in that direction.
The top line slopes down and is resistance. The bottom line slopes up and serves as support.
Price is at support.
No recommendation.
Symmetrical TriangleTop line slopes up indicating lower highs and bottom line slopes up indication higher lows.
Neutral until broken.
Earnings 8-1 AMC.
Analysts do not appear positive on earnings.
No recommendation.
Devon Energy (DVN) Gearing up !!Devon energy on technical chart is gearing up for bullish momentum. On weekly chart
1. It has crossed 20 and 200 EMA
2. Falling trendline broken and closed above it.
3. Once current resistance zone crosses above $55, it will continue for good upside.
4. Consolidation of price from Mar till June in range and now ready to breakout.
One to Watch: DVN, 2/18/23One to Watch: DVN , 2/18/23
*(video coming...maybe)
Potential Weekly stage 3 breakdown/ INT/LT trend reversal?
Distribution since March 22': (courtesy VolumeLeaders)
15.8M @ $66.80 = $1.1B (39)
8.62M @ $74.90 = $650M (28)
10.3M @ $60.10 = $620M (53)
8.31M @ $68.50 = $570M (65)
10.1M @ $53.80 = $540M (24) (closed under spot on W basis)
Is DVN a place that will see relative weakness over the next 3-6 months? Are people offsides and we're seeing the movie theatre exit on lower timeframes?
Multi timeframe- st extended. inverted 5 ema, 8sma st guide, inverted 30 dma/85dema int guide.
Note*- PEG to spark trend reversal? 2 earnings gaps downs in a row. Will "investors" lose faith as institutions continue to monetize inventory from much lower prices?
Risk- continued stage 3 sideways action, violent undercut and reversal.
DVN - Inverted H&S An inverted H&S following a falling wedge
I use the inverted H&S as a chart pattern that allows continuation
Circles placed are left shoulder, head and right shoulder.
DVN long positionDevon Energy Corporation is on a descending triangle, so we expect a retracement of the price. Moreover the price is hitting both the support and the band of the triangle, making the price more likely to raise, Also the RSI index shows that the stocks are oversold, further strengthen this theory. You can go long on this stock as soon as its price breaks the upper band of the triangle. You can then sell in the resistance as shown in the chart.
DVN - Trend ReversionTrade Theme Trend Reversion
Sector/Stock DVN
Trend R/R
Propulsion 21/34ema
Vscore Yes
Vprofile Yes
RAF Not at Extreme
Darvas No
Darvas 3.0 Yes
Entry 49.95 Minor Low Breakout. Look for improvement on breakout pullback.
Profit/Breakeven 48.05 50% Fib retracement and Volume resistance.
Stop Loss 25% Stop Loss
Option 19May23 50 Puts
Aggro on first entry and looking for price improvement on continue Measured Move to $51.
I also don't like the Higher Low - which could be a 1-2-3, albeit in a Downtrend.
$DVN - the gap closed is $52 still possible?With the gap close the island bottom reversal invalidated. However AB=CD pattern is still in play unless the price breaks below $44.
We can still see $52 unless the price breaks below $44.
$DVN - AB=CD + Potential island bottom reversal$DVN have a chance of Island bottom reversal on top of AB=CD pattern that I posted a few days ago. Island bottom is formed when the price gapped down at the end of down trend and gapped up around same gap down area leaving air pocket see rectangle 1 and 2.
However, the pattern invalidates, if the gap up closes. If you look at rectangle 1, you can see the stock shot up after island reversal. We are at rectangle 2. Lets hope it does the same!
$DVN - Bulkowski 's AB = CD Bullish pattern This is the practical application of Bulkowski's AB = CD bullish pattern on #DVN #DevonEnergy. The ABCD pattern is identified by Fib retracement and extension shown in chart.
Now we can trade based on probability of price reaching to
A ($64) = 40% chance
B ($52) = 83% chance
C ($57) = 47% chance
Current price is $46.27. Betting on $52 point B is almost a sure bet with 83% chance! Let's see if I make money!
Not many people talk about this pattern. I will be using it in actual trading! How exciting?
$DVN - looks good for a reversal to $62DVN looking good for a reversal to $62. The MACD is crossing bullish. RSI is turning up.
Target 1: $62.
Risk: fall to $49.92.
——
Trade is done when it hit one of the target or stop loss is hit.
Disclaimer: Trading note. Not an investment advice.
What to do with DVNThis latest drawdown is interesting. Don't want to get burned by a falling knife.
