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After Yesterday's Rally of 4.89% Shares Could Potentially Pullback

By David Diaz

Devon Energy (NYSE:DVN) traded in a range yesterday that spanned from a low of $33.47 to a high of $34.42. Yesterday, the shares gained 4.9%, which took the trading range above the 3-day high of $34.12 on volume of 4.7 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 share prices have moved between a 52-week high of $70.48 and a 52-week low of $18.07 and are now trading 90% above that low price at $34.27 per share. The 200-day and 50-day moving averages have moved 1.15% lower and 3.91% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Devon Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Devon Energy in search of a potential trend change.

Keywords: rebounders devon energy

Ticker(s): DVN