Devon Stock Forecast
Devon stock price ended at $50.54 on Friday, after gaining 0.397%.
(Updated on May 03, 2024)
The Devon stock price gained 0.397% on the last trading day (Friday, 3rd May 2024), rising from $50.34 to $50.54. During the last trading day the stock fluctuated 2.27% from a day low at $50.16 to a day high of $51.30. The price has risen in 6 of the last 10 days but is still down by -2.49% for this period. Volume fell on the last day by -4 million shares and in total, 9 million shares were bought and sold for approximately $448.07 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 28.93% during the next 3 months and, with a 90% probability hold a price between $65.16 and $74.89 at the end of this 3-month period.
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DVN Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Devon stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $51.55 and $51.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -7.28%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Devon stock
Devon finds support from accumulated volume at $50.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.14 (2.27%) between high and low. For the last week, the stock has had daily average volatility of 2.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DVN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Devon Energy Corporation to open at $50.67, and during the day (based on 14 day Average True Range), to move between $49.35 and $51.73, which gives a possible trading interval of +/-$1.19 (+/-2.36%) up or down from last closing price. If Devon Energy Corporation takes out the full calculated possible swing range there will be an estimated 4.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.34 (0.40%) than the resistance at $50.95 (0.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Devon Energy Corporation stock A Buy?
The Devon stock holds several negative signals and despite the positive trend, we believe Devon will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.784 Sell Candidate Unchanged
Predicted Opening Price for Devon Energy Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $50.67 ( 0.251%) | $50.54 |
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 | 51.81 | 2.51 % | |
| R2 | 51.37 | 1.64 % | ||
| R1 | 51.10 | 1.11 % | ||
| Current price: | 50.54 | |||
| Support | S1 | 50.23 | -0.611 % | |
| S2 | 49.96 | -1.14 % | ||
| S3 | 49.53 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.42 | 5.70 % | |
| R2 | 52.77 | 4.41 % | ||
| R1 | 50.95 | 0.81 % | ||
| Current price | 50.54 | |||
| Support | S1 | 50.34 | -0.396% | |
| S2 | 44.03 | -12.88% | ||
| S3 | 42.41 | -16.09% |
DVN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.350 | 0.693% |
| 2 | Feb 27, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.220 | 0.438% |
| 3 | Nov 07, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.200 | 0.442% |
| 4 | Aug 01, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.290 | 0.608% |
| 5 | May 08, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.720 | 1.49% |
FAQ
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