Devon Energy Update

8 Mar 2021

Following on from my previous analysis we can see that DVN has followed the trend towards our price target of $26+. On Friday afternoon the line of resistance that we have seen stay consistently strong remained unbreakable, emphasised with a slight retracement after touching it mid-way through Friday. Furthermore I have analysed DVN on a greater time scale concluding there is strong resistance at $26.93 and again strong support at the correction point set as a result of the formation of the Bearish Flag ($19.63). Subsequently we can see DVN following these trends hopefully reaching our PT.