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RSI low/high Values: [ 25 - 75 ]
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AI Analysis of DVN
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Devon stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 11, 2024)

Buy or Hold candidate since Mar 13, 2024 Gain 13.69% PDF

The Devon stock price fell by -1.12% on the last day (Thursday, 11th Apr 2024) from $54.51 to $53.90. During the last trading day the stock fluctuated 3.12% from a day low at $53.27 to a day high of $54.93. The price has risen in 8 of the last 10 days and is up by 8.98% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -369 thousand shares and in total, 7 million shares were bought and sold for approximately $395.05 million.

The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $54.72 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 30.55% during the next 3 months and, with a 90% probability hold a price between $65.31 and $71.44 at the end of this 3-month period.

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DVN Signals & Forecast

The Devon stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $53.51 and $48.22. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -1.12%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Devon stock

On the downside, the stock finds support just below today's level from accumulated volume at $42.77 and $41.68. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Devon finds support just below today's level at $42.77. If this is broken, then the next support from accumulated volume will be at $41.68 and $41.08.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.66 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 2.16%.

The Devon stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $51.88 (-3.75%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (DVN) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect Devon Energy Corporation to open at $54.03, and during the day (based on 14 day Average True Range), to move between $52.95 and $54.85, which gives a possible trading interval of +/-$0.95 (+/-1.76%) up or down from last closing price. If Devon Energy Corporation takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $54.14 (0.45%) than the support at $42.77 (20.65%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Devon Energy Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Devon stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.131 Buy Candidate Upgraded

Predicted Opening Price for Devon Energy Corporation of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$54.03 ( 0.247%) $53.90

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for DVN

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 55.69 3.33 %
R2 55.06 2.15 %
R1 54.67 1.42 %
Current price: 53.90
Support S1 53.40 -0.93 %
S2 53.01 -1.66 %
S3 52.37 -2.83 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 54.51 1.13 %
R1 54.14 0.445 %
Current price 53.90
Support S1 42.77 -20.65%
S2 41.68 -22.67%
S3 41.08 -23.78%

DVN Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 27, 2024 Mar 14, 2024 Mar 28, 2024 $0.220 0.438%
2 Nov 07, 2023 Dec 14, 2023 Dec 29, 2023 $0.200 0.442%
3 Aug 01, 2023 Sep 14, 2023 Sep 29, 2023 $0.290 0.608%
4 May 08, 2023 Jun 14, 2023 Jun 30, 2023 $0.720 1.49%
5 Feb 14, 2023 Mar 14, 2023 Mar 31, 2023 $0.89 1.76%

FAQ

What is the symbol for Devon Stock and on which exchange is it traded?
The symbol for Devon is DVN and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Devon Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Devon stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Devon Stock?
Devon Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Devon Stock.

What's the current price of Devon Stock?
As of the end of day on the 2024-04-11, the price of an Devon (DVN) share was $53.90.

What is the 52-week high and low for Devon Stock?
The 52-week high for Devon Stock is $56.19 and the 52-week low is $40.47.

What is the market capitalization of Devon Stock?
As of the 2024-04-11, the market capitalization of Devon is 33.922B.

When is the next earnings date for Devon?
The upcoming earnings date for Devon is May 01, 2024.
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About Devon Energy Corporation

Devon 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 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.... DVN Profile

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