Nov. 13 at 1:36 AM
$DVN is currently trading at
$35.17, with an RSI of 70.72 indicating overbought conditions. The price is above both the 30-day moving average (MA30) of 33.18 and the 50-day moving average (MA50) of 33.9, suggesting a bullish trend. However, the high of
$37.26 within the last 60 days presents a resistance level, while the low of
$31.47 indicates a support level.
Given the overbought RSI, a pullback could be expected. Suggested entry could be around
$34.50, with a stop loss at
$33.50 to manage risk. Target 1 could be set at
$36.00, just below the recent high, while Target 2 could be at
$37.00, aiming for a breakout above the 60D high.
Overall, maintain a cautious bullish stance while monitoring for potential pullbacks.
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