Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>DVN stock price fell 7% in September 2023.</a> </li> 
 <li> <span>2</span> <a>Devon stock price faced rejection from $54.00 and showed a steep fall.</a> </li> 
 <li> <span>3</span> <a>Devon Energy Corp. is stuck in a wide range of consolidation.</a> </li> 
</ul> 
<p>Devon Energy Corp. DVN stock price corrected approximately 15% from the recent swing high and formed a bearish pattern. It faced rejection from the $54.00 and began declining by forming lower lows candles.&nbsp;</p> 
<p>DVN stock price dropped below the 50-day EMA which triggers the negative sentiment and invites further decline. The recent downfall has eroded the majority portion of its previous gains and dragged the price to the lower range.&nbsp;</p> 
<p>On a higher timeframe, Devon stock price seems to be stuck in a range between $46 to $54. Buyers tried multiple times to break the higher range and expand upward. However, due to the strong presence of sellers, the price faced rejection and reverted down.&nbsp;</p> 
<p>At present, DVN stock price is near the lower range and buyers are trying their best to rebound. In the recent fall, selling volume increased and price also traded negatively. It shows that some genuine investors may have taken an exit from the higher levels.&nbsp; The price has corrected a lot from its high so short-term consolidation is much needed.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/06/dvn-stock-forecast-which-one-will-be-in-action-bull-or-bear/" target="_blank" rel="noreferrer noopener">Devon stock price</a> closed the previous session at $47.51 with an intraday rise of 1.97%. The market capitalization stands at $30.44 Billion.</p> 
<h2 class="wp-block-heading" id="strong-dvn-stock-price-needs-fresh-buying-to-recover-strong"><strong>DVN Stock Price Needs Fresh Buying to Recover</strong></h2> 
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  <img decoding="async" loading="lazy" width="1024" height="434" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853-1024x434.png" alt="" class="wp-image-171445" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853-1140x483.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-853.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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   NYSE: DVN daily chart by<a href="https://www.tradingview.com/x/2g11xPMC/"> TradingView</a>
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 </figure>
</div> 
<p>DVN stock price formed a strong base near $46.00 so it will be difficult for the sellers to pull the price further down. The broader market indices like Nasdaq 100 and S&amp;P 500 are mild bearish which is negatively impacting the sentiment of investors.&nbsp;</p> 
<p>Moreover, it may also indirectly impact the Devon shares. However, till Devon stock price sustains above $44.00, the buyers will remain active. Therefore, a short-term bounce back is possible.&nbsp;</p> 
<p>On the other hand, if the situation gets worse and<a href="https://www.thecoinrepublic.com/2023/09/06/dvn-stock-forecast-which-one-will-be-in-action-bull-or-bear/" target="_blank" rel="noreferrer noopener"> the DVN share price </a>drops below $43.00, then it may trigger the next phase of sell-off.</p> 
<h3 class="wp-block-heading" id="strong-devon-stock-price-fell-for-three-consecutive-weeks-strong"><strong>Devon Stock Price Fell for Three Consecutive Weeks</strong></h3>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_9155a"></div> 
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:DVN",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "dark",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Supertrend"
  ],
  "container_id": "tradingview_9155a"
}
  );
  </script> 
</div>  
<p>Devon stock price fell for three consecutive weeks and formed a bearish pattern. In the current week, the price is forming a small bullish candle. It indicates that the downfall has taken a halt and buyers may come forward to push the price higher.&nbsp;</p> 
<p>MACD is below the zero line but the curve is reversing upward. It indicates that bears are losing their grip and buyers’ presence is visible.&nbsp;</p> 
<p>The RSI at 37 reversing upward from the oversold territory. If the recovery continues, then RSI might reach neutral territory.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Devon Energy Corp. DVN stock price is in a correction phase and formed a bearish pattern. However, the downfall seems to be taking a halt near $46.00 and buyers presence is visible.&nbsp;</p> 
<p>The technical analysis suggests Devon stock price is near the demand zone and is expected to reverse upward in the coming weeks.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li>Resistance levels: $50.00 and $54.00</li> 
 <li>Support levels: $46.00 and $43.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

DVN Stock Price Analysis: Will Devon Stock Rebound From $46?

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