Devon Energy Corporation
Short

$DVN - Daily

107
Could be putting in an Island reversal here on daily above the 1.618 ext and approaching R3 below the 200 MA. Weekly bounce off S2. The ideal short would be at 50.46 which is the 61.8 retracement from the high.

RSI at 76 and CMF is at 85.43 - warrants at least a pull back..

I would buy May 32P's and expect the trade to work within 1-2 days, if not, bail.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.