DVN LongSector is currently hot
Stock has daily RSI > 70, and study shows stocks with RSI above 70 will often continue to rise
Volume > 1mio
Price above 5$
Broke consolidation
0I8W trade ideas
DVN inverse fractal wave motion...DVN inverse fractal wave motion. The reason for inverse fractal wave movement is the increase in option trading. It is a kind of wave motion whose attribute is that all the falling waves in the past have taken on an equally large but growing wave. The fractal feature is that the corrections in the same places appear in the exchange rate as in the initial fractal in the past, just inverted. But back to the analysis. If the exchange rate continues to move without major market shocks, it will reach 51 usd in approximately 50-60 days. Here, it is worthwhile to make a profit for those who have entered into 28-30 usd and level. Because then, a 13 USD correction is expected, followed by a slip. Then a stronger upward section begins. The figure is a seven-time interval resolution. So that I expect 200 days to start the big rise. However, this stock will be available for 300% in the next three years.
The DVN share price is rising...The DVN share price is rising. In our view, energy prices are slowly increasing. This is followed by the share of oil and processing companies. Technically, the exchange rate is a first-time correction of an upward trend. This is about to end. According to our strategy, USD 31 is already an upward wave rate. If this statement is correct, it can last up to 52.13 usd for the current move. This requires a further waveform, so at this level we expect a $ 39 correction. Then we expect a wave of wave motion to increase to a higher level, for which we expect to reach 67 usd levels. As the increment is expected to be 2 wavelengths, after a further correction, a pre-amplitude wave may raise the exchange rate up to 100 usd levels.
DVNDVN is down in a Bollinger Band so I doubt it is going any kind of retracement on the upside, it looks like it is still heading down. Take a look.
DVN - POTENTIAL BOTTOMSignal of a potential bottom from one of my dBFIs on the weekly chart
Awaiting confirmation (close above sma14).
DVN Long SetupAnother possible setup is for DVN. If I am not mistaken we are in a possible wave 4 which could retest the support line of previous highs. This is possible since US index in on the rise and oil prices can drop accordingly. If so, this can be an oppurtunity to load up with some cheap oil stocks like DVN.
Closed above previous resistanceIt is looking better to get back to $37+ again. There is a gap to $40 last year, this could be filled soon.
$DVN - DailyCould 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.
Opened with gapThe newly opened little window has been closed imediately which opened the way for a further fall.
Buy opportunity on DEVON ENERGY CORP NEW (DVN)Buy reccomendation solely based on technical analysis.
