DTT Buzz
Exclusive Market Analysis, Alerts and Commentary from the DaytradeTeam trading staff
Tuesday, April 08, 2008
Devon Energy (NYSE: DVN)...A Beast of a Stock!!
The market has seen it's ups and downs as of late. Most stocks have whipsawed all over the place, making it very difficult to place swing trades unless you are willing to place very wide stops. In any market, there are always a few stocks that ignore the environment for the most part. Devon Energy (NYSE: DVN) is a perfect example of this type of stock.
DVN continues to make new ALL TIME HIGHS on a daily basis. This stock is a BEAST! I looked at an all time chart of DVN last night, and noted an absolutely beautiful uptrend since 1989!
The recent moves into new all time highs does not deter me. In fact, it has sparked my interest in the stock. I'm going to keep a very close eye on DVN, and suggest that you consider doing the same. At this point, 107.50 should be a nice resistance turned support level in the stock. If DVN pulls back to the 107.50 level, I will highly consider taking the first steps towards building a position in the stock.
Regards,
Nick Fenton
Sr. Trade Analyst, DaytradeTeam
p.s. Call 1-866-232-9872 and ask about our Learn and Master Technical Analysis seminar. This seminar will take your technical trading skills to the next level!
DVN continues to make new ALL TIME HIGHS on a daily basis. This stock is a BEAST! I looked at an all time chart of DVN last night, and noted an absolutely beautiful uptrend since 1989!
The recent moves into new all time highs does not deter me. In fact, it has sparked my interest in the stock. I'm going to keep a very close eye on DVN, and suggest that you consider doing the same. At this point, 107.50 should be a nice resistance turned support level in the stock. If DVN pulls back to the 107.50 level, I will highly consider taking the first steps towards building a position in the stock.
Regards,
Nick Fenton
Sr. Trade Analyst, DaytradeTeam
p.s. Call 1-866-232-9872 and ask about our Learn and Master Technical Analysis seminar. This seminar will take your technical trading skills to the next level!
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