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SmarTrend Watching for Potential Pullback in Shares of Devon Energy Co After 1.98% Gain

By Nick Russo

Devon Energy Co (NYSE:DVN) traded in a range yesterday that spanned from a low of $26.41 to a high of $26.59. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $26.36 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Devon Energy Co on November 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.15. Since that recommendation, shares of Devon Energy Co have risen 13.4%. We continue to monitor DVN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Devon Energy Co has traded in a range of $19.72 to $35.39 and is now at $26.70, 35% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.4%.

Keywords: rebounders devon energy co

Ticker(s): DVN