Certus Trading Review: Good looking setup for this energy stock – Devon Energy (DVN)
Oil has recently tested the $50 resistance area multiple times, and the commodity is poised to break out to the upside soon and flip $50 into a strong long-term support level.
Of course, many oil stocks will also move to the upside, DVN included. In today’s video, I am going to show you the critical elements that I look for on DVN’s chart, where the stock is heading, and the best way to trade this move.
You can then apply the same strategy to your favorite energy/oil stocks that are exhibiting similar technical characteristics.
Enjoy!
Matt Choi CMT
Co-Author: The Winning Way
CORRECTION: In the video I said Jan 19 expiration, when I should have said Jan 18 expiration (which is approximately 128 days from today)
Certus Trading Review: Good looking setup for this energy stock – Devon Energy (DVN)
Duration: 4 Minutes 43 Seconds
