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Devon Energy Co Rises 2.42% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

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.

Over the past year, Devon Energy Co has traded in a range of $28.79 to $50.69 and is now at $42.48, 48% above that low. 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 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