• Return to Headlines

After Yesterday's Rally of 2.42% Shares Could Potentially Pullback

By James Quinn

Devon Energy Co (NYSE:DVN) traded in a range yesterday that spanned from a low of $41.67 to a high of $42.70. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $41.64 on volume of 3.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Devon Energy Co share prices have moved between a 52-week high of $50.69 and a 52-week low of $28.79 and are now trading 48% above that low price at $42.48 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.9% while the 200-day MA has slid 1.1%.

SmarTrend recommended that subscribers consider buying shares of Devon Energy Co on April 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.72. Since that recommendation, shares of Devon Energy Co have risen 22.8%. We continue to monitor DVN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders devon energy co

Ticker(s): DVN