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Watch for Devon Energy Co to Potentially Rebound After Falling 1.18% Yesterday

By Nick Russo

Devon Energy Co (NYSE:DVN) traded in a range yesterday that spanned from a low of $21.70 to a high of $21.98. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $22.03 on volume of 3.5 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 $43.60 and a 52-week low of $20.37 and are now trading 7% above that low price at $21.86 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Devon Energy Co on July 18th, 2019 by issuing a Downtrend alert when the shares were trading at $25.70. Since that call, shares of Devon Energy Co have fallen 14.3%. 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