DVN - Trend Reversion

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Trade Theme Trend Reversion

Sector/Stock DVN

Trend R/R
Propulsion 21/34ema
Vscore Yes
Vprofile Yes
RAF Not at Extreme
Darvas No
Darvas 3.0 Yes


Entry 49.95 Minor Low Breakout. Look for improvement on breakout pullback.
Profit/Breakeven 48.05 50% Fib retracement and Volume resistance.
Stop Loss 25% Stop Loss

Option 19May23 50 Puts

Aggro on first entry and looking for price improvement on continue Measured Move to $51.
I also don't like the Higher Low - which could be a 1-2-3, albeit in a Downtrend.
Nota
Energy blew the doors off today. Gotta look to other sectors for a trade.
Technical Indicators

Penafian