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Devon Energy Co Set to Possibly Pullback After Yesterday's Rally of 2.21%

By James Quinn

Devon Energy Co (NYSE:DVN) traded in a range yesterday that spanned from a low of $21.74 to a high of $22.46. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $22.37 on volume of 1.8 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 $35.39 and a 52-week low of $19.72 and are now trading 11% above that low price at $21.81 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.4%.

SmarTrend is tracking the current trend status for Devon Energy Co and will alert subscribers who have DVN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders devon energy co

Ticker(s): DVN