Oil is setting up nicely for a move up. A sizzling hot economy still burning off stimulus with rate cuts will do that! Hopefully this trade will be valid for 2-3 months and PGMs will look good.
Reasons for bullish bias:
- Price bounced from strong support
- Entry is at the breakout of the triangle
- Targets set till projection
Entry Level(Buy Stop): 45.96
Stop Loss Level: 40.21
Take Profit Level 1: 51.71
Take Profit Level 2: 63.19
Take Profit Level 3: Open
Haven't updated this in a while - i've been holding long calls throughout this strong movement. Will look for the next breakout of orange tapered but expecting some resistance there ($51 level) where we can see price falling out of purple and finding blue continuation support.
Will update as we get there
Happy Trading :)
DVN is rallying and is looking strong. The RSI hasn’t been this strong since 10/21 and that lead to a rally that saw the stock double. I am skeptical that this happens again. It could be overbought here. It has a lot of overhead supply where it may meet resistance. The fact that it has recovered the 200-day SMA should attract attention of fund managers. ...
DVN appears to have finished its wave 2 bottom and is entering wave 3. Indicator went long on March 6 and is overbought on the daily so there may be an opportunity to buy after a pull back around $45. Either way if this is wave 3, there is a long way to go so just being in the trade is what's important.
NYSE:DVN
www.tradingview.com
NYSE:DVN looks like a good long position into earnings. Has taken a significant beating over the past few months. Bounced off a strong level of support in low $40s. Rotation into energy, geo political risks, etc. Looks like a cup and handle could form. MACD is tilting up, and could cross. RSI has already crossed.
Someone asked me for my thoughts on DVN and I thought it would be a good opportunity to do a live analysis of how I get my charts to look the way they do (messy).
The further you go down in timeframe, the more algorithms you start to see and create. But here is an initial Daily bias to go on - and look to see some of these long-term selling channels broken in...
Devon Energy could see decent growth over the next few years, with energy prices going up globally because of a number of variables associated with government policies that effect fossil energy imports. Keep a look out for policy changes and importing and exporting crude costs.
Analyzing 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...
Neutral pattern until broken with a trend in that direction.
The top line slopes down and is resistance. The bottom line slopes up and serves as support.
Price is at support.
No recommendation.
Top line slopes up indicating lower highs and bottom line slopes up indication higher lows.
Neutral until broken.
Earnings 8-1 AMC.
Analysts do not appear positive on earnings.
No recommendation.
Devon energy on technical chart is gearing up for bullish momentum. On weekly chart
1. It has crossed 20 and 200 EMA
2. Falling trendline broken and closed above it.
3. Once current resistance zone crosses above $55, it will continue for good upside.
4. Consolidation of price from Mar till June in range and now ready to breakout.
An inverted H&S following a falling wedge
I use the inverted H&S as a chart pattern that allows continuation
Circles placed are left shoulder, head and right shoulder.
