Devon Energy Corp (DVN): Price Now Near $22.12; Daily Chart Shows An Uptrend on 100 Day Basis

The Hourly View for DVN

Currently, DVN (Get Ratings)’s price is down $-0.04 (-0.16%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as DVN has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on DVN; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

DVN’s Technical Outlook on the Daily Chart

Currently, DVN’s price is up $0.11 (0.48%) from the day prior. This move is a reversal from the day prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows DVN’s price action over the past 90 days.

DVN

For DVN News Traders

Investors and traders in DVN may be particularly interested in the following story that came out in the past day:

3 Energy Stocks That Could Directly Benefit From the Economy Reopening

When governments shut down their economies last year to slow the spread of the coronavirus, it caused energy demand to fall off a cliff. Three that our contributors believe could directly benefit from the economic reopening are utility Consolidated Edison (NYSE: ED), refiner Phillips 66 (NYSE: PSX), and oil producer Devon Energy (NYSE: DVN). Reuben Gregg Brewer (Consolidated Edison): Consolidated Edison’s utility business is focused on the New York City area.

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