Is DVN a place that will see relative weakness over the next 3-6 months? Are people offsides and we're seeing the movie theatre exit on lower timeframes?
Multi timeframe- st extended. inverted 5 ema, 8sma st guide, inverted 30 dma/85dema int guide.
Note*- PEG to spark trend reversal? 2 earnings gaps downs in a row. Will "investors" lose faith as institutions continue to monetize inventory from much lower prices?
Risk- continued stage 3 sideways action, violent undercut and reversal.
Comment
Have buybacks been compressing vol? Are institutions offloading their bags to DVN?
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