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After Yesterday's Rally of 2.94% Shares Could Potentially Pullback

By Shiri Gupta

Devon Energy Co (NYSE:DVN) traded in a range yesterday that spanned from a low of $42.25 to a high of $43.48. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $43.41 on volume of 2.1 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 50% above that low price at $43.33 per share. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has advanced 3.9%.

SmarTrend recommended that subscribers consider buying shares of Devon Energy Co on December 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.43. Since that recommendation, shares of Devon Energy Co have risen 4.3%. 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