Devonenergy
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.
1/16/22 DVNDevon Energy Corporation ( NYSE:DVN )
Sector: Energy Minerals (Oil & Gas Production)
Market Capitalization: 34.114B
Current Price: $50.39
Breakout price: $51.30
Buy Zone (Top/Bottom Range): $47.80-$44.40
Price Target: $56.20-$57.60
Estimated Duration to Target: 74-77d
Contract of Interest: $DVN 4/14/22 55c
Trade price as of publish date: $3.10/contract
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
DVN slides with the crude downward correctionDVN stock is showing a bearish performance lately after breaking out a bearish formation (bearish symmetrical triangle) on the daily timeframe, yet the breakout is not confirmed.
With the technical indicators supporting the breakout confirmation, prices may fall hitting $25.70 and $24.15 consecutively.