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Devon Energy Co (DVN) Breaks Through Resistance at $24.11

By Shiri Gupta

Devon Energy Co (NYSE:DVN) has opened bullishly above the pivot of $24.19 today and has reached the first level of resistance at $24.11. Should the shares continue to rise, the resistance pivots of $24.27 and $24.35 will be of interest.

Devon Energy Co has overhead space with shares priced $23.87, or 49.9% below the average consensus analyst price target of $47.69. The stock should find initial resistance at its 50-day moving average (MA) of $24.08 and further resistance at its 200-day MA of $25.56.

In the past 52 weeks, Devon Energy Co share prices have been bracketed by a low of $19.72 and a high of $35.39 and are now at $23.87, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.5%.

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 5.4%. We continue to monitor DVN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts devon energy co

Ticker(s): DVN