1DY6 trade ideas
Shorting opportunity on Devon Energy (DVN)Here is my Free Trial Shorting Trading Signals - I only focus on large cap stock which are part of the S&P 500.
I will be posting everyday at around 30-120 mins before the market close.
Here is my website which I am currently working on for my business so check it out and give me some feedback either through the website or Personal Message on Tradingview.
Short DVN
Entry - before market close today (10/03/2015)
Stop Loss -58.15
Take Profit - 54.30
Thank you for you time and hope this is helpful to find out more about my service please visit : spalquibravo.wix.com/oliveiratrading (still under construction)
or PM on Tradingview
Target 70 for DVN?After the triple bottom and breaking off, still a log of buying. Short term target maybe 70.
Devon Energy DVN - UPDATE ON BASE FORMATIONThis is an update with a trade that is on and ongoing.
What to do here now that the trade is moving along the projected path?
What's your vote?
I'll raise my stop to breakeven.
Tim
10:20AM Wednesday Feb 19, 2014
Devon Energy DVN is a coiled spring ready to rallyThis is the same chart that I published a month ago and all I have done is shifted the rally further to the right. The target and the stop are the same.
Now that crude oil prices are coming out of their slide, it could lead traders to find the laggards in the group to buy.
It looks like DVN is a coiled spring here, ready for a nice rally.
12:32PM EST, Wed Jan 22, 2014
Devon Energy DVN returns to support _ Re-entry long hereDevon was written up favorably in an article in Barron's Magazine this past weekend. The stock jumped to 61.50 on the story but has since retraced those gains. Now the stock is back to support levels and with a bigger base of support just under current prices, the upside-downside situation looks acceptable.
Note on the chart how DVN formed a sequence of accumulation patterns where each apex point seems to be the base of the following correction and therefore a support level
Note also the down trending BLUE line that shows where sellers have been sitting on top of this stock for some time. Those sellers appear to be gone and now those former resistance levels also provide support on any pullbacks.
I like to buy groups that are oversold and turning up and with the steep correction in energy prices lately, I am willing to step back into this market, especially after we got out of this so well at the height of the last rally. Recall at that time oil prices were caving in and yet, oil stocks were still rallying.
Note that I put the P&L forecast off to the right so as not to infiltrate the chart with too many graphics.
Cheers.
Tim 1:27PM EST, Wednesday November 13, 2013
REPUBLISHING - TARGET REACHED - long DVN versus short CRUDE OILThis trade panned out on both sides. LONG DEVON ENERGY (DVN) and SHORT CRUDE OIL (CL1!)
The drop in Crude Oil ought to make anyone holding longs in oil-related names very nervous.
I will look around for shorts in the oil sector.
Cheers.
11:03AM EST Wednesday, October 23, 2013
Devon Energy DVN to rally 10% or more to catch up to Crude Oil The recent breakout of the small triangle might be alerting us to a much bigger trade here in DVN. This is not the first time I have posted a chart on DVN calling for a move up. However, note the distinct correlation between DVN (candlestick chart) and Crude Oil (Bar chart, faded). The recent rally has been more in the front months of crude oil (which is known as backwardation, where front months trade above the price of more distant delivery months) and may explain the relative weakness shown by DVN. There may be a better trade to go short Crude Oil and Long DVN and hold for 3-6 months. I would choose to short crude oil in more distant contracts and not in front months.
Note the very distinctive, blue trendline that connects the 2nd highest low across the highs of each rally. This is not a "normal" way of looking at trendlines, but it makes sense to me. I want to see how high the LOWEST BUYER of the day was in the rally phases. What I am trying to find is the point where the buyers have lifted the stock to in the previous rallies. Two days is more indicative of strength than one, and the pattern seems to show with two days. It appears this has a chance to get through this time if we start to see some volume.
Also note the Interesting collection of triangles together in this base formation. I can't say I have seen this before but it caught my eye and thought it was interesting to see how the market is acting and reacting around previous price action.
Lastly, the very clear symmetrical triangle at the end of this chart, which is after over a year of sideways, base-building action.
Again, look for volume to confirm and be willing to average in over a few days and be ready to buy on dips. I hope this train gives us plenty of time to jump on board before it leaves the station.
Tim 2:08PM EST Thursday, September 5, 2013
Devon Energy Corp (DVN) ready to rallyThe recent pull-back in the shares of DVN have brought the price back down to its most frequent price where it has traded for more than 20 days at the 57 level. Today reached down and the buyers for DVN shares apparently were there. The price lifted and closed above support.
The base that DVN has been building since bottoming in June appears to be solid, but what I like most about this pattern is that DVN is so close to key support that it provides an excellent risk to reward trade. The upside, as I see it, is a rally above the current base-range around the 64-66 level.
DVN has lagged the XLE (Energy stock ETF) and you could short the XLE as a hedge against a long position in DVN. You could also short crude oil or one of its derivatives also.
To comment on the regression channel: I started it from the HIGHEST LOW and concluded it at the LOWEST HIGH.
Technical Tim 5:20PM EST, Tuesday September 4, 2012
