One to Watch: DVN, 2/18/23
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One to Watch: DVN , 2/18/23
*(video coming...maybe)
Potential Weekly stage 3 breakdown/ INT/LT trend reversal?
Distribution since March 22': (courtesy VolumeLeaders)
15.8M @ $66.80 = 1.1B (39)
8.62M @ $74.90 = 650M (28)
10.3M @ $60.10 = 620M (53)
8.31M @ $68.50 = 570M (65)
10.1M @ $53.80 = 540M (24) (closed under spot on W basis)
Is DVN a place that will see relative weakness over the next 3-6 months? Are people offsides and we're seeing the movie theatre exit on lower timeframes?
Multi timeframe- st extended. inverted 5 ema, 8sma st guide, inverted 30 dma/85dema int guide.
Note*- PEG to spark trend reversal? 2 earnings gaps downs in a row. Will "investors" lose faith as institutions continue to monetize inventory from much lower prices?
Risk- continued stage 3 sideways action, violent undercut and reversal.
*(video coming...maybe)
Potential Weekly stage 3 breakdown/ INT/LT trend reversal?
Distribution since March 22': (courtesy VolumeLeaders)
15.8M @ $66.80 = 1.1B (39)
8.62M @ $74.90 = 650M (28)
10.3M @ $60.10 = 620M (53)
8.31M @ $68.50 = 570M (65)
10.1M @ $53.80 = 540M (24) (closed under spot on W basis)
Is DVN a place that will see relative weakness over the next 3-6 months? Are people offsides and we're seeing the movie theatre exit on lower timeframes?
Multi timeframe- st extended. inverted 5 ema, 8sma st guide, inverted 30 dma/85dema int guide.
Note*- PEG to spark trend reversal? 2 earnings gaps downs in a row. Will "investors" lose faith as institutions continue to monetize inventory from much lower prices?
Risk- continued stage 3 sideways action, violent undercut and reversal.
Nota
Have buybacks been compressing vol? Are institutions offloading their bags to DVN? Most recent Dec 22 buyback rel smaller...
ycharts.com/companies/DVN/stock_buyback
March beginning of blow off move/stage 3?
trends.google.com/trends/explore?q=energy stocks&geo=US
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