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Devon Energy Corporation

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DVN trade ideas

Devon Energy (DVN) | Technical Break, Wait For a Retest!Hi, another idea from the stock market. Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma. Technical analysis of DVN looks promising. The price of Devon Energy has made a break above the trendline which is pulled from ATH in 2008. It has worked quite strongly as resistance and after the break above it starts to act as a support. There is also a minor level around $20. It has played quite a significant role considering history. It is good that the trendline and the strong horizontal area form a grossing zone which adds strength to the future retest. We haven't seen higher highs on the monthly, but if you look at smaller timeframes then there are some minor breakouts of the structure (higher highs) which are good confirmations for future growth. If you are made your own fundamental research and you see that it might be a good investment then technical analysis confirms it, at least mine. Remember, a perfect investment consists of good fundamentals and good technicals. If one of them does not meet your expectations then skip it, easy. If you have the green lights from both analyses then you can start building your positions from £23! Have a nice weekend, Vaido
NYSE:DVNLong
by VaidoVeek
1
DVN uptrend - What to expectI took some time this morning to go over the chart for Devon Energy. It looks like there is a lot of room for potential. 35 Analysts say 86% BUY. Trend continuity is in perptual uptrend. There's a steady diagonal line there. Earnings report coming up in July. There are some good short squeeze positions at the pinnacle of those bounces as well however if you buy now and hold until the end of the year there is a good potential for gains at just under 50%.
NYSE:DVNLong
by cleverfoxinbox
DVN Uptrend - What to expect I took some time this morning to go over the chart for Devon Energy. It looks like there is a lot of room for potential. 35 Analysts say 86% BUY. Trend continuity is in perptual uptrend. There's a steady diagonal line there. Earnings report coming up in July. There are some good short squeeze positions at the pinnacle of those bounces as well however if you buy now and hold until the end NYSE:DVN of the year there is a good potential for gains at just under 50%.
NYSE:DVN
by cleverfoxinbox
DVN Long - Oil sector recently entered a stage two advance I can see that the vast majority of market sectors have been in a continued bullish advance for quite some time but the oil industry has lagged. However, around mid November 2020, the sector finally broke up out of a range and above the 200 day moving average. Now many names are up trending quite well, especially in the "oil and gas E&P" sub sector of the oil industry. I compared the names in that sub sector that had entered a stage to advance and possessed market caps over 2 billion, then narrowed down my selection to 2 names, DVN and XEC . Initially I came down to these two because I liked their charts but also, they stood out for their lower debt/equity compared to their peers . Following this, I compared their charts and volumes in addition to the following metrics : 1) Quick ratio's 2)Debt over equity 3) EPS (This year and next ) 4)Gross Margins 5)Institutional ownership %'s 6)Forward P/E 7)Price to book The names both scored well but I think DVN is the winner and the main things that stood out were : Much better quick ratio ( DVN's 2.3 compared to XEC's 0.9) EPS forecast shows way more growth this year is expected ( DVN eps this year expected to be 2088% higher compared to XEC's 355%) DVN offers a slightly better price to book . DVN has significantly more liquidity. Having said that , both names are expected to report a positive eps for their upcoming quarterly reports which has not happened for several quarters and I think they will both do well. I think that they both have much more upside potential as does the oil sector in general, which is pretty fresh into its advancing stage . I have included the chart for the oil refiners etf , "CRAK" , on the chart which as you can see has also moved from a stage one to a stage two advance . USO shows the same pattern too . Good luck ~
NYSE:DVNLong
by NAK1987
1
DVN is a maybe for the scalpers, but a hard no for investors.DVN is consistent if nothing else. Consistent losses for 10+ years. The Covid freeze-out saddled many developers and producers with enormous new debt, which will have long-term impacts on fundamentals. Their 2019 annual report was already poor when compared to prior years, but 2020 and Covid brought even more pain. Anyway in hourly or daily charts, you may see a short-term opportunity, but I think the current run-up is nearly out of steam anyway. Take the 4% upside if you can get it. In this chart, we see the cyclical behavior of two companies with favorable 'Buy' outlooks from popular analysts. The cycles define epochs which have 16-month duration (+/- 2 months), and are demarcated by locating local minima in the weekly chart. In my opinion, I see no substantial remaining upside in DNV for the current epoch, although I am open to being wrong as usual. Although some unique market psychology is present in the ongoing recovery, investors are not re-inventing anything. Compare the current bullish upswing with the same textbook upswing in 2014 (green squares) Bollinger bands function here to illustrate impulsive price action pushing above the 2-sigma level of the rolling HV, leading to profit-taking and mean regression. Right now is simply too late to ride the current swing, in my opinion.
NYSE:DVNShort
by oerboom
DVN correction motion end. DVN correction motion end. The fractal pairs seen in my analysis have the following properties. The fractal currently under construction is double the original fractal structure. It can be seen that the ATR axis (orange dashed line) of the fractal now under construction is ascending. This means that the rise in the exchange rate will be provided by a growing ATR trajectory. The primary target price was now determined not from the fractal trajectories but from the fair value of DVN. The current fair value and the target price are: 28.01 usd
NYSE:DVNLong
by meszaros
Devon Energy UpdateFollowing on from my previous analysis we can see that DVN has followed the trend towards our price target of $26+. On Friday afternoon the line of resistance that we have seen stay consistently strong remained unbreakable, emphasised with a slight retracement after touching it mid-way through Friday. Furthermore I have analysed DVN on a greater time scale concluding there is strong resistance at $26.93 and again strong support at the correction point set as a result of the formation of the Bearish Flag ($19.63). Subsequently we can see DVN following these trends hopefully reaching our PT.
NYSE:DVN
by sjeans
Devon Energy PT $26DVN is currently on the correct path to hit the $26.11 set price target. From my analysis we can clearly see a bearish flag forming which would heavily indicate an upcoming correction of Devon Energy's stock value. Balanced with the formation of the bearish flag is the double fractal sequence which sees DVN's price target at $27.72. Enumerating both factors we can come to the conclusion that DVN still has room for growth up to the PT of between $26.11 and $27.72 before we see a slight correction.
NYSE:DVN
by sjeans
DEVON ENERGY CORP now is in BUY Situation DailyHey my friends, DEVON ENERGY CORP is in a bullish configuration with a large water-carrying candle followed by equal, short legs and high volume buy traded. In the TIMEFRAME M1 we see a marubozu with a large volume of purchase issued, it goes to the top of the stabilization zone to check it. Great potential to breakout the price before the momentum at the same time the zone to reach the second zone and go to the next high. After a second resistance to give up before the breakout of a stabilization zone with an adjustment on this high point (See TIMEFRAME H4) to finish for an excess. And (on the TIMEFRAME H1) two resistance to pass, lowered prediction for the test of the intermediate median of the ANDREWS PITCHFORK range. Please LIKE & FOLLOW, thank you!
NYSE:DVNShort
by stephanelibatd