Devon Energy Corp Stock Code DVN.NYS
Outlook
Price broke above the cloud on Friday’s night, changing the trend outlook for this stock from bearish to bullish. The breakout candle was also a strong white candlestick, bigger than the previous few days. This enhances the strength of the bullish breakout. Price has also moved above a gap from 6 March 2020, enhancing the strength of the breakout. Conversion and Base lines had a bullish crossover confirming the bullish trend. Lagging Span is above price of 26 days ago but is currently inside the cloud. MACD is bullish. MACD is rising as well, hinting of further price upsides ahead. Projecting with the V price projection, gives us a price target of $16.10. A bigger E projection from 15 April’s low gives us a price target of $18.67. Using the N projection target from 18 March’s low, gives us a price target of $18.78.
Strategy
$14.48 Buy
$18.78 Price Target
$12.78 Risk Management Stop
3 weeks Trade Duration
Marathon Oil Corp Stock Code MRO.NYS
Outlook
Price broke above the cloud on Friday changing the trend to bullish after being in a bearish trend since 24 Jan 2020. The breakout on Friday was a stronger and bigger candlestick than the previous few days. This enhances the strength of the breakout. Price gapped above a gap that was created on 6 March 2020. Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago but is currently inside the cloud. MACD is bullish with both its lines above the zero line. Going by the N price projection from the low on 1 April 2020 to the high of 30 April, we have a price projection target of $9.66, which is just below the gap resistance zone from $9.68 to $9.97.
Strategy
$7.30 Buy
$9.68 Price Target
$6.10 Risk Management Stop
3 weeks Trade Duration
