Devon Energy Stock To Test Resistance
| May 02, 2022 05:42AM ET
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.
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