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Devon Energy Co Set to Possibly Rebound After Yesterday's Selloff of 1.35%

By Shiri Gupta

Devon Energy Co (NYSE:DVN) traded in a range yesterday that spanned from a low of $39.88 to a high of $41.08. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $40.27 on volume of 5.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Devon Energy Co share prices have moved between a 52-week high of $46.54 and a 52-week low of $29.83 and are now trading 35% above that low price at $40.41 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has risen 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Devon Energy Co on August 10th, 2018 by issuing a Downtrend alert when the shares were trading at $42.27. Since that call, shares of Devon Energy Co have fallen 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders devon energy co

Ticker(s): DVN