Tag: Devon Energy

CFD Trading – Devon Energy & Marathon Oil Corp

Nicholas

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


CFD Trading – Devon Energy & Marathon Oil Corp

Nicholas

Devon Energy Corporation Stock Code DVN.NYS

Outlook
Price moved into the cloud and stayed within the cloud for 3 days but was unable to move above the cloud despite a rally in the Dow index and crude oil price. Price closed at the edge of the cloud yesterday and could be moving lower. Conversion and Base are both flat but have not crossover as yet. Price was unable to break above a resistance point 3 days ago. MACD is bullish at the moment, but its histogram shows MACD is weak. The cloud area is thick and large and we think with a weak momentum, price is unlikely to able to move above the cloud. Price could be heading lower to test the previous low of $19.75.

Strategy
$22.40                Short Sell
$19.80                Price Target
$23.50                Risk Management Stop
3 weeks              Trade Duration

Marathon Oil Corp Stock Code MRO.NYS

Outlook
Price tested the cloud 3 days ago, but for 2 days was unable to move beyond the edge of the cloud. Yesterday, price moved below the cloud, confirming the bearish trend. Both Conversion and Base lines had a bearish crossover earlier as well, reinforcing the bearish trend Lagging Span is below the cloud, confirming the bearish trend. MACD has turned bearish with both its lines below the zero line. Price could be heading lower to the previous low of $$11.06.

Strategy
$11.95                Short Sell
$11.06                Price Target
$12.45                Risk Management Stop
3 weeks              Trade Duration

CFD Trading 24 May 2019

Nicholas

Goldman Sachs Group Inc Stock Code GS.NYS

Outlook

Price broke below the cloud after trying unsuccessfully to move above it for a few days. A gap resistance at $201 also capped the advance together with Conversion line. Price is now below the cloud as well as the Base and Conversion lines. It is likely to move lower to the first gap support at $185.65. MACD gave a bearish divergence warning when price was on the second rally, which is a hint of a price high. MACD has turned bearish, indicating a likely price decline.

Strategy

$197.80 Sell
$185.70 Price Target
$201.40 Risk Management Stop
4 weeks Trade Duration

Devon Energy Corp Stock Code DVN.NYS

Outlook

Price broke a price support at $29.86 yesterday and closed the day at its low. This is bearish sign even if price has not moved below the cloud. Price is below both the Conversion and Base lines and is capped by the faster Conversion line. The trend is bearish and price is likely to move lower to either $26.65 or the stronger support at $24.19. MACD has turned bearish and is moving lower.

Strategy

$29.75 Sell
$24.20 Price Target
$32.20 Risk Management Stop
4 weeks Trade Duration

Related Posts

CFD Trading 20 February 2019

Nicholas

Fedex Corp Stock Code FDX.NYS

Outlook

Price may have reached its correction peak at $187.04. Price was unable to move above the cloud resistance and has since closed below the Conversion line. Price, below the cloud is a sign of a bearish trend and with MACD upward momentum weakening; there is a high chance of a price decline. There was a gap lower in price 2 days ago on high volume. Yesterday, price tried to close this gap unsuccessfully. Price should not move above $183.80 or the bearish scenario would be negated. Currently, price is sitting on the upward sloping trend line from 26th Dec low. If price breaks this trend line support, it is likely to accelerate its decline.

Strategy

$180.25 Short Sell
$171.25 Price Target
$184.25 Risk Management Stop
2 weeks Trade Duration

Devon Energy Corp Stock Code DVN.NYS

Outlook

Price broke above the cloud two days ago and yesterday price stayed above the cloud. Price also broke a recent high resistance at $27.92 and managed to close above this resistance for 2 consecutive days. Both Conversion and Base lines have a bullish crossover earlier. This bullish trend was confirmed by a bullish MACD. MACD has turned bullish and is rising, hinting of further price advances. We think price can rally to $33.30 which is the Fibonacci 38% of the 6-month price decline starting in July 2018. There is one price resistance at $29.17. A move above this resistance would accelerate a price rally towards $33.30.

Strategy

$28.10 Trading Buy
$33.20 Price Target
$26.30 Risk Management Stop
2 weeks Trade Duration

Related Posts

CFD Trading 9 January 2019

Nicholas

Caterpillar Inc Stock Code CAT.NYS

Outlook

Price has moved up from the low into the cloud resistance but volume on the rally has been declining. It is a sign of a weak rally. MACD has also been weak. There is no strong momentum on this current rally. The daily candlesticks are getting smaller with each passing days. This is again a sign of weakness and consolidation. As price approaches the cloud resistance, it could face strong resistances at the $135.10 to $135.60. The latter resistance is the cloud resistance. We believe these 2 strong resistances could force price into a retreat and back to $121.50.

Strategy

$135.00 Short Sell
$121.80 Price Target
$138.80 Risk Management Stop
2 weeks Trade Duration

Devon Energy Corp Stock Code DVN.NYS

Outlook

Since the low on 26th of Dec 2018, price has been climbing up the scale. It has come to a previous low resistance point at $25.89. There is another resistance point at $26.60. While price has been climbing higher, volume has been declining lately, suggesting the rally could be coming to an end. MACD has also been bearish. However, price has moved above Kijun line but is still below the cloud. We think the 8-day rally could be near to an end and in need to a correction.

Strategy

$26.50 Short Sell
$24.30 Price Target
$28.10 Risk Management Stop
2 weeks Trade Duration

Related Posts