DVN 10-Week forecast and technical analysis by Pretiming. | |||
◆ Closed price | |||
May 29, 2023 | 48.53 | 0.96% | |
◆ Appropriate Investment Position: Sell | |||
◆ This week's stock price Buy-Sell strength analysis | |||
The current trend appears to be 'Rebound trend'. The OPEN-price started with a stronger decline rate than the current trend and The HIGH and LOW prices are showing a weaker HIGH-price and a stronger LOW-price Finally, the CLOSE-price closed with a weaker upward rate than the current trend. | |||
The overall buy-sell strength indicates that the sell strength is stronger than the buy. | |||
Assuming that the average sell strength is -100%, | |||
This week's sell strength is | -121% | | |
◆ Next week's stock price Buy-Sell strength Forecast | |||
Based on recent stock trends and technical analysis, it looks like DVN stock is poised for a Rebound trend next week | |||
The %strength of Risk & Return next week : | 28% | ||
HIGH ~ LOW % range next week : | 2.7% | -0.3% | |
Predicted Average loss over the next 3 weeks: | -4.1% | ||
The price of DVN stock moves in line with the rise and fall of the stock market index with a probability of | 57% | | |
, and conversely, it moves against the stock market index trend with a probability of | 43% | | |
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◆ DVN stock price 10 Week forecast | |||
It is expected that the overall trend movement over the next 10 weeks will follow a strong downward direction, with a ratio of 5 : 5 for the downward to upward direction, with the proportion of the upward and downward trend being equal. However, in terms of the expected strength of the upward and downward movements, the upward strength is moderate, while the downward strength is higher. Currently, it's in the midst of a rebound trend in an upward-trending market with a box pattern of price fluctuations, marked by small declines and upward fluctuations. and It's maintaining a suitable Buy-Sell strength for the current trend conditions. | |||
Indicating that We are currently in a bearish zone. Therefore, it is recommended to implement a strategy to reduce risk and take a suitable investing position. A suitable investing position is 'Sell(Bearish)' for now. The appropriate selling timing is predicted to be in 2 weeks. | |||
The selling date is | Jun 05 | to | Jun 12 |
A good price to sell a stock: | $ 50.81 | ||
And the appropriate buying timing is predicted to be in 5 weeks. | |||
The buying date is | Jun 26 | to | Jul 03 |
A good price to buy a stock: | $ 42.52 | ||
(Forecast may change due to changes in the Buy-Sell strength) | |||
◆ Volatility of forecast | |||
Due to maintaining a proper flow of Buy-Sell strength that is suitable for the current trend, pretiming forecasting may have low volatility. | |||
◆ Predicting the turning point of the trend | |||
The probability of a trend reversal occurring approximately 2 weeks from now, 6 weeks from now, 9 weeks from now | 38% | ||
◆ Forecast of Upper~Lower price range over the next 10 weeks | |||
Price: | 43.08 | ~ | 49.70 |
% Change: | -11.2% | ~ | 2.4% |
Median price between the upper and lower prices | 46.39 | -4.4% | |
◆ Analysis of the trend zone & level% and average strength of trends | |||
For the last 30 weeks, the average trend zone & level% | Bearish | -37% | |
The Current trend zone & level% | Bearish | -60% | |
The expected average trend zone & level% for the next 10 weeks | Bearish | -54% | |
If the trend moves upward from the current trend level%, it's expected to have an average upward strength of | 36% | (Max 100%) | |
And if it moves downward, it is expected to have a downward strength of | -80% | (Min -100%) | |
◆ Forecasting the strength of the trend and the range of the HIGH ~ LOW | |||
Trend | Strength% | HIGH | LOW |
In 1 week: Rebound trend | 28% | 2.7% | -0.3% |
In 2 weeks: Entering a downtrend | 21% | 3.4% | -1.2% |
In 3 weeks: Downtrend | -95% | 0.0% | -8.7% |
In 4 weeks: Downtrend | -98% | -0.2% | -8.8% |
In 5 weeks: Entering a rebound trend | -37% | 0.0% | -4.3% |
In 6 weeks: Entering a rebound trend | 47% | 6.3% | -0.9% |
In 7 weeks: Rebound trend | 44% | 3.9% | 0.3% |
In 8 weeks: Entering a downtrend | 37% | 3.0% | 0.2% |
In 9 weeks: Entering a downtrend | -96% | 0.2% | -7.9% |
In 10 weeks: Downtrend | -73% | 1.5% | -5.3% |
◆ Average closing price in case of rising: | | 3.9% | |
=> HIGH ~ LOW range: | 6.5% | ~ | -3.6% |
◆ Average closing price in case of falling: | | -5.7% | |
=> HIGH ~ LOW range: | 3.2% | ~ | -7.7% |
Stock forecast is based on the buy-sell strength analysis of pretiming. Get detailed information including best stocks to buy, stock price target and investment strategy, Bearish & Bullish stock trend analysis, stock technical analysis. | |||
