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Devon Energy (DVN) Crossed Above the 20-Day Moving Average: What That Means for Investors

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  • DVN

Devon Energy (DVN) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, DVN crossed above the 20-day moving average, suggesting a short-term bullish trend.

A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.

Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.

Moving Average Chart for DVN
Moving Average Chart for DVN

DVN has rallied 14.1% over the past four weeks, and the company is a Zacks Rank #1 (Strong Buy) at the moment. This combination suggests DVN could be on the verge of another move higher.

The bullish case only gets stronger once investors take into account DVN's positive earnings estimate revisions. There have been 8 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

Investors may want to watch DVN for more gains in the near future given the company's key technical level and positive earnings estimate revisions.


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