Devon Energy Stock Flashes Improved Technical Strength

The Relative Strength (RS) Rating for Devon Energy (DVN) stock headed into a new percentile Friday, as it got a lift from 61 to 75.

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When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s proprietary rating identifies price performance with a 1 (worst) to 99 (best) score. The score shows how a stock’s price performance over the trailing 52 weeks holds up against all the other stocks in our database.

History shows that the top-performing stocks often have an 80 or better RS Rating as they begin their largest climbs. See if Devon Energy stock can continue to rebound and hit that benchmark.

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Is Devon Energy Stock A Buy?

Devon Energy stock is trying to complete a consolidation with a 78.92 buy point. See if it can clear the breakout price in heavy volume. Keep in mind that it’s a later-stage consolidation, and those entail more risk. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.

The energy stock showed 102% earnings growth in the latest quarterly report, while sales growth came in at 57%. The company is expected to report its latest performance numbers on or around Feb. 14.

Devon Energy stock earns the No. 18 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Denbury (DEN) and EOG Resources (EOG) are also among the group’s highest-rated stocks.

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