Devon Energy Stock To Test Resistance

By Stock MarketsMay 02, 2022 05:42AM ET

www.investing.com/analysis/devon-energy-stock-to-test-resistance-200623296

Devon Energy Stock To Test Resistance

By | May 02, 2022 05:42AM ET

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When we look at Devon Energy Corporation's (NYSE:DVN) chart, we can see its support formation at the $53 range after the fall from the $56 level on Apr. 23 and the steady climb from there on, initially in the $57 range and reaching as high as $61, now deemed the overhead resistance. It was last found trading in the $58.14 range having the closest support level at the $56.

Devon Energy Corporation (NYSE:DVN) has scheduled a quarterly earnings announcement today. If earnings expectations are surpassed, we could expect the price to move upwards, towards $65.

Today we can expect a move towards and above the $61 resistance level. If, however, it doesn’t manage to hold on to the current level, then a move towards and below the $56 closest support level can be expected.

Devon Energy price chart.

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Devon Energy Stock To Test Resistance

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